Nu-Med Says It Lacks Cash to Make Interest Payments
- Share via
Nu-Med Inc., an ailing Encino-based operator of hospitals, said it does not have the cash to pay $3.6 million of interest that was due in two payments, on Sept. 1 and Sept. 15.
The interest is due on certain Nu-Med debentures, of which about $53 million in face value are currently outstanding.
The company, which lost $37.6 million on revenue of $124 million in its fiscal year that ended April 30, said it is discussing possible modifications of the debt’s structure with the debenture holders, but that no agreement has been reached.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
