Daiei Inc.'s three main creditor banks are in the final stages of hammering out a plan to seek the help of the state-backed Industrial Revitalization Corp. of Japan to rescue the embattled retailer, sources said Friday.
Officials involved will also probably soon meet to discuss the possible sale of the Daiei Hawks professional baseball club so Daiei can concentrate on its supermarket operations, the sources said.
UFJ Bank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp. have apparently reached an agreement to turn to IRCJ for help, after concluding that a Daiei-authored rehabilitation plan is not sufficient to resurrect its business.