£500bn worth of loans need refinancing

Guardian UK
High street meltdown
A Nightmare on the High Street as shops fall like dominoes
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The Bank for International Settlements, the central banks' central bank, said in its annual report last year that there were £500bn worth of loans taken out by private equity firms that need refinancing by 2010. As things stand, many of the private equity-owned retail businesses are struggling to make payments on what were generous bank terms negotiated in the good times.