JOHANNESBURG – A group of Steinhoff creditors have appointed financial adviser PJT Partners and law firm Latham Watkins to represent them in any potential debt restructuring, PJT said.
Steinhoff, owner of more than 40 retail brands including Poundland in Britain, is fighting for survival after admitting accounting irregularities last month that triggered an 85 percent share slide.
Steinhoff International has given its creditors a glimmer of hope by stating that it is able to operate its business on short-term funding for its various businesses after securing some liquidity in the past few days.
In a meeting with its lenders on Friday in London, the retailer committed to giving a quarterly trading update at the end of February.
Steinhoffs su…
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