Cognetas in restructuring talks with lenders

It is understood that Cognetas is in talks with lenders about restructuring the debts in four of its portfolio companies, namely: SGD, the 110-year-old French glassmaker; plastic surgery group Covenant Healthcare, owner of the UK's leading breast enhancement provider; Novus, a British pub operator; and CPI, a French printer.

In 2008, the firm lost control of Danoptra, a fruit machine manufacturer and operator, and Travelsphere, a holiday provider for the over-45s, which was renamed Kaleidoscope.

Its recent travails come at a difficult time for Cognetas, which last month cut six of its 50 staff at its London, Paris, Milan and Frankfurt offices. The multiple setbacks could make things difficult for future fundraising, which had been expected to start as early as this year.

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