FRANKFURT (Reuters) - 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.
($1 = 0.8169 euros)
Reporting by Georgina Prodhan; Editing by Ludwig Burger