Spar to sell head office to reduce debt
Group plans to lease its fleet but ‘there are no plans to approach shareholders for funding’
16 January 2025 - 05:00
Wholesaler grocery and building materials group Spar plans to sell its head office and other properties and lease its fleet as part of measures to reduce its R9bn debt pile.
The group said in the 2024 annual report published on Wednesday that its engagement with its lenders in the year under review focused on its debt structure and plans to reduce the debt and the ability of the SA business to take on the residual Polish debt that had been guaranteed...
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