Steinhoff secures 60 mln euros of required 200 mln liquidity
By Respect Gwenzi, Jan 19, 2018
South African furniture retailer Steinhoff has secured 60 million euros ($73 million) of the 200 million it is seeking to close a liquidity gap and will ask its creditors to waive some payments that are coming due, it said on Thursday.
"The company is seeking the necessary approvals and consent for further installments of the balance. It is expected that any funds so received will be available to meet business critical payments during the next phase of the group's stabilisation plan," it said in a statement. Reuters
Top Stories
Caledonia Secures Bank Backing for Bilboes as Production Base Strengthens Amid Gold Bull Run
Caledonia Mining Corporation Plc has appointed Stanbic Bank Zimbabwe and CBZ Bank as co-lead arrangers for an interim funding facility of up to US$150 million, marking a significant step in the financ
2 hours ago
