Pressure Mounts At Gate Gourmet

Pressure Mounts At Gate Gourmet: "US-owned airline catering firm Gate Gourmet may be squeezed between creditors and unions after a source familiar with debt talks said the banks were considering demanding immediate payment of all outstanding debt.
The loss-making firm's cost-cutting program triggered wildcat strikes at London's Heathrow Airport last Thursday when British Airways staff walked out in support of workers sacked by the supplier of in-flight meals.
Now senior creditors are considering demanding immediate repayment of a CHF400 million Swiss franc (USD$319.3 million) loan, after junior creditors called in a CHF270 million (USD$215.5 million) loan last week, piling pressure on the company while it is in embroiled in union talks.
'The senior lenders are considering calling in their loan. This would not necessarily lead to bankruptcy,' the source said. 'The company could either pay off or restructure the loan.'"