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South African retail group Steinhoff extends deadline for creditors for the second time

Steinhoff has extended the “early bird fee” deadline for creditors to sign a three-year agreement to hold off their debt claims for the second time. The retailer is looking for ways to restructure its circa nine billion euro debt. Steinhoff saw how growing debt wiped more than 90 percent off its market value and forced it into asset sales to...

23 Jul 2018