Truworths International-owned Office will be on a new footing days after its parent company bagged a loan to help resuscitate the troubled UK-based shoe chain.

The apparel retailer said it would get £32.5m (about R603m) from Standard Bank, which it will use to settle its sterling-denominated debt of £43m. It would use £10.5m of cash reserves to settle the remainder of the debt.

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