Steinhoff International Holdings updates on progress of financial restructuring
Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group").
As previously reported in the December Update, the Company continues to actively monitor cash flows and manage other liabilities (including contingent claims, tax and bilateral facilities) as well as funding needs that may arise at the subsidiary level. The South African business remains self-funding whilst the Pepkor Europe (including Poundland) business continues to benefit from strong levels of liquidity. Mattress Firm is self-supporting following the emergence from chapter 11. As indicated in the December Update, SEAG has provided a secured short-term funding facility to Conforama to provide working capital support to the Conforama group.
Shareholders and other investors in the Company are advised to exercise caution when dealing in the securities of the Group.