In a meeting with its lenders on Friday in London, the retailer committed to giving a quarterly trading update at the end of February.
Steinhoff’s subsidiary Conforama in France said its financing position has been secured and it has a commitment letter signed for an asset-based lending facility of 115million (R1.69billion).
The execution is expected today along with first drawdown. In addition it has sold a non-core asset, a 17percentstake in Showroomprivé to Carrefour, which was announced on January 11 for net proceeds of 79m.
In the UK, Steinhoff has managed to raise £260m (R4.36bn), an increase from the £180m of new funding announced on January 3.