Steinhoff seeks new debt extension as investors suffer further
In addition to the debt restructuring, Steinhoff is keeping a tight grip on spending to help strengthen its cash position
19 June 2019 - 20:00
Steinhoff International Holdings is seeking another extension to restructure almost $12bn of debt as the retailer strives to keep shop doors open and increase the value of some of its assets.
The South African retailer will probably miss a June 30 deadline for agreeing to a debt deal, the owner of Conforama in France and Mattress Firm in the US said in its 2018 annual report published late on Tuesday. Steinhoff needs time to prepare some divisions for an eventual sale that will enable it to repay creditors, the company said...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.