July 11, 2018 / 2:18 PM / 4 months ago

Steinhoff says makes progress with creditors over restructuring

JOHANNESBURG, July 11 (Reuters) - South African retailer Steinhoff, said on Wednesday it had begun a process with creditors for a “lock-up agreement”, which once completed could allow the restructuring of huge debts within three months.

“The launch of the LUA (lock-up agreement) marks the culmination of several weeks of discussions with the ad hoc committees of third party creditors,” Steinhoff said in a statement.

“(It) represents an important step in the restructuring process.” (Reporting by Nqobile Dludla Editing by Joe Brock)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below