Reid & Taylor to file for bankruptcy over â¹5,000 cr loans
Clothing brand Reid & Taylor and its parent company S Kumars Nationwide have headed for bankruptcy after they defaulted on loans worth more than â¹5,000 crore, according to reports. IDBI Bank has reportedly initiated insolvency proceedings against S Kumars Nationwide, while Edelweiss Asset Reconstruction has pulled Reid & Taylor (India) to insolvency court.