Irish banks give Spar the cold shoulder in its bid to raise debt for Poland drive

Wholesaler needs more capital and to fund new software rollout as well as expansion in Eastern Europe

Wholesaler Spar, which needs cash to invest in Poland, says the Irish banks it approached about raising debt have not expressed interest in significantly increasing its debt covenants.

Spar, which operates in Switzerland, SA, Ireland, and Poland, needs to raise more capital and to fund the rollout of new software and its expansion in the East European country. It warned the market last year it may withhold or reduce dividends to do it...

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