The firm now has to focus on reducing its R170bn debt, but the amounts due at the end of 2022 are likely to be granted an extension
Four years and many sleepless nights later, Steinhoff has taken a big step on the road to corporate rehabilitation after receiving an unqualified audit for its 2021 financial results released on Friday with its annual report.
The debt-laden multinational furniture retailer is still running at a loss but has managed to reduce the red ink to €850m in 2021 from €2.3bn a year earlier. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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