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Steinhoff won't find it easy to raise funds | IOL Business Report

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Steinhoff is likely to have a hard time delivering on its plan of issuing equity to raise funds to cover its legal battles, given its $12billion debt burden and tough financial position, analysts said. busrep

JOHANNESBURG – Struggling global retail giant Steinhoff is likely to have a hard time delivering on its plan of issuing equity to raise funds to cover its legal battles, given its $12billion debt burden and tough financial position, analysts said on Friday.

“Given the complexity of the Steinhoff litigation landscape, there can be no certainty that resolution of the disputes can be achieved prior to a final determination by the relevant courts, but the Litigation Working Group continues to explore the possibility of finding an acceptable solution to the current disputes,” the company said.

Steinhoff appointed the Litigation Working Group to lead its litigation strategy as it faces multiple claims brought in South Africa, the Netherlands and Germany. Steinhoff said on Friday that, given the numerous parties involved, the litigation situation was highly complex.

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busrep TekkieTown ,Steinhoff misled Tekkie Town with the same trick, it's seemingly an old habit of Steinhoff to offer Shares, not this time Steinhoff face your consequences of fraud and corruption just as brave as you mislead Investors!!

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