Towergate bondholder report puts 2014 loss at £803.5m
Ebitda down sharply.
Towergate recorded a loss of £803.5m in 2014, according to its annual bondholder report released today.
The loss was a part of the group's financial restructuring, which saw the consolidator being acquired by TIG Finco for £735.0m.
The group received additional capital of £122.0m as part of the financial restructuring.
Value
According to the bondholder report: "The fair value of the group implied by the financial restructuring has been used to re-assess the carrying value of goodwill.
"This has
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