Steinhoff heads to court for restructuring approval
Proposal calls for extending a debt repayment deadline to June 2026 and placing the company in the care of a trust
01 June 2023 - 12:03
UPDATED 01 June 2023 - 19:36
Steinhoff has applied to the Dutch court for approval of its restructuring plan that would make it binding on all lenders and shareholders, saving it from imminent bankruptcy. The court will hear the application on June 15.
Steinhoff intends to enter a restructuring process known as the WHOA (Court Confirmation of Extrajudicial Restructuring Plan/Wet Homologatie Onderhands Akkoord) to prevent being forced into bankruptcy in June and its assets sold in a fire sale...
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