Ann: Second Quarter-First Half Results and KPI's, page-2

It looks like BLY using debts to pay interest atm. Good or bad is now up to the debts holdersl..

Cash flows and liquidity:
For the first half of 2014 the Company generated $16 million of cash from operations (including a $22 million reduction in inventory offset by other changes in net assets and liabilities), invested a net $7 million in the business and utilised $37 million of financing related cash flows. Including net interest and tax payments, net cash flows used in operating activities were $15 million.

As a result, gross debt increased from $585 million at 31 December 2013 to $624 million at 30 June 2014 while net debt increased from $544 million to $556 million during the same period. Debt balances rose largely as a result of $26 million of senior note interest payments made in April and to seasonal liquidity requirements. At 30 June 2014, the Company maintained $91 million of available capacity under its bank credit facility in addition to cash on hand of $68 million.