New Delhi: The country's leading coffee chain company CDEL is surrounded by many problems these days. Some time ago the founder of the company committed suicide. The company is in debt. The company has appointed IDFC Securities as its advisor to help it repay these debts, which will help the company find an option to repay the debt. These strategic options will also include disinvestment of Coffee Day Global and its other subsidiaries. Cafe Coffee Day is run by CDEL.
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Significantly, under the pressure of increasing debt, the company's founder VG Siddharth committed suicide. After this incident, the company's troubles were increased. Since the death of Siddharth, the company has been trying to repay the debt through the sale of its assets.
Recently, the company's board had approved the sale of its Global Village Tech Park in Bangalore. Explain that Siddharth was the son-in-law of former Karnataka CM SM Krishna. His death caused a stir. Several days after his disappearance, his body was recovered from the river. His suicide note mentioned debt. He was also under investigation by the Income Tax Department.
