Church's Sale Cuts Prada Debts

Prada's sale of 55 per cent of footwear company Church & Co to private equity group Equinox, for between GBP69.5m and GBP86.9m, will cut the fashion house's net debt down to GBP382m. Prada will sell other assets in order to cut debts to GBP208.7 by 2004.