Steinhoff rescue hits a pothole

Steinhoff International’s effort to rescue its European business has been delayed.

LSW GmbH, “which says it’s a creditor of Steinhoff Europe”, has opposed a company voluntary arrangement proposed on December 14.

LSW is “an entity related to Andreas Seifert, who has a dispute ongoing in the Austrian courts against Steinhoff Europe AG”, a Steinhoff spokesperson said. – Bloomberg