Stella Announcement - 3 August 2009
Australia-based travel and hospitality company Stella Group today announced it has completed a comprehensive corporate restructure and recapitalisation to position its businesses for future performance, long-term stability and growth.
Stella Group Chairman, Andrew Cummins said "We have reached a significant milestone in our long-term plan to strengthen the Stella Group of companies. We have completed the restructuring and recapitalisation of the group, ensuring each of Stella Hospitality Group and the Stella Travel Services Group has a solid balance sheet, access to substantial liquidity and more importantly, a solid and stable platform to grow as the hospitality and travel market recover, following challenging market conditions over the past 12 months.
