Board agrees to restructuring under Dutch law that could see debt repayment dates extended for three years and shareholders getting nothing
Retail holding company Steinhoff’s share price tumbled as much 25% on Wednesday on news that the company will ask creditors to approve a restructuring plan that leaves shareholders with nothing.
The shares fell to as low as 20c from a previous close of 27c, but had pared the losses to 23c in afternoon trading...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 TimesLive Premium.
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