The owner of Yellow Pages has sidestepped the prospect of administration after it struck an agreement with a group of lenders to pay back 39 per cent of what it owes. The lenders, led by Barclays, threatened to push hibu, the publishera€™s new name, into administration after the company refused to pay A?65 million of debt that it had taken out in 2006.


The company has A?2.2 billion of borrowings, mostly taken out in 2009, and is in the middle of negotiations over a debt-for-equity swap.
Salcombea€™s first development of new properties right on the watera€™s edge for almost twenty years.





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