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If you do not want to keep the secured cards, change to credit cards you like and get rid of the secured ones as soon as possible.
Payment of the "indubitable equivalent" of the secured claim.
The secured creditors are led by Green's retail business, Arcadia, which is owed £35m.
The company said it obtained the secured financing through new or existing credit lines.
The secured creditors are led by Sir Philip Green's retail business Arcadia, which is owed £35m.
It is eliminating old shareholders, mostly a single hedge fund, and giving ownership of the company to the secured lenders.
Around £100m will now be repaid to the secured creditors or bondholders that had lent £430m to the firm.
The secured lenders would remain in place.
That halted the cash burn, pleasing the secured creditors.
In March the secured capital from JL Ventures.
"It would have been too much economically for the secured creditors to finance the reorganization".
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