Amazon failed to provide any help when group debt mounted: Future promoters

NEW DELHI: Amazon provided mere “lip service” and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group’s promoters said in a letter to the e-commerce giant.

This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future’s retail assets to Reliance Industries.

The letter from the promoters, including Kishore Biyani, was written on December 31.