Findus Said to Be Taken Over by Junior Lenders in Restructuring #PatriciaKuo @Bloombergnews @resilient_ent #PrivateEquity

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Findus Group Ltd., the frozen-food company owned by private-equity firm Lion Capital LLP, will be taken over by its junior lenders in a debt restructuring, according to four people with knowledge of the situation. Lion Capital, which backs the debt-for-equity swap proposal, will retain a stake of about 30 percent in Findus, owner of the Young’s Seafood brand, said the people, who asked not to be identified because the talks are private.

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