Steinhoff says could issue shares to help settle lawsuits
Steinhoff has been battling with the fallout from the scandal after flagging holes in its accounts in December 2017. The company is fighting for its survival, having declared billions of dollars in losses and seen its shareholder equity wiped out.
“All the various debt instruments that previously existed will be re-issued. Secondly, the group at group level will not pay any cash interest,” new CEO Louis du Preez said in a presentation to investors.92 days ago