Polestar has finalised negotiations over its financial restructuring plan and will issue a statement in the next week detailing how it will move forward.

Restricted bondholders accounting for 70% of the groups 140m ($200m) high-yield debt received Polestars proposals a month ago (PrintWeek, 28 September).

Polestar was also forced to delay repayment of the 17m loan for last years acquisition of HelioColor until its restructuring plan was completed.

A source said he was expecting details to be released to the financial community by Friday 19 October.

* GPMU deputy general secretary Tony Burke was to address a chapel meeting at Polestar Chromoworks last night (18 October). He was to inform staff of the unions progress in talks over 32 proposed job losses at the Nottingham plant (PrintWeek, 5 October).