South Africa

South African Consumers Dropping Products From Shopping Lists To Save Money: Nielsen

A new study by Nielsen has found that South African shoppers are dropping products from their weekly shopping lists to save money, with the three most-affe...

Steinhoff Unit Hemisphere Gets Creditor Support For Debt Lock-Up

South African retailer Steinhoff said on Thursday that lenders to its subsidiary Hemisphere had agreed to hold off their debt claims and the firm will now...

Steinhoff's Creditors Support Debt Lock-Up, Key To Saving Retailer

Steinhoff's creditors agreed to hold on their debt claims for three years, the embattled retailer said on Friday, throwing a lifeline for the South African...

Steinhoff Says Around 90% Of Creditors Support Debt Lock-Up

Steinhoff said on Thursday that around 90% of creditors for several subsidiaries supported an agreement to hold off debt claims for three years, an importa...

Steinhoff Extends Lock-Up Early-Bird Fee Deadline For Second Time

Steinhoff extended its 'early-bird fee' deadline for the second time on Wednesday, for creditors to sign a three-year agreement to hold off their debt clai...

Steinhoff In Talks With Creditors Over Deal To Delay Debt Claims

Steinhoff is in talks with creditors over an agreement to hold off debt claims for three years while the troubled South African retailer restructures &euro...

South Africa's Christo Wiese Cuts Shoprite Stake After Steinhoff Hit

South African tycoon Christo Wiese sold part of his stake in grocer Shoprite on Wednesday, raising 3.6 billion rand ($264 million) and shoring up his finan...

Steinhoff Enters Agreements To Sell Austrian Unit To Rene Benko's Signa

South African retailer Steinhoff International Holdings N.V. said it had agreed to sell its Kika/Leiner furniture and household goods retail unit to Austri...