Truworths International debt restructure to have no impact on SA

Action taken by Truworths International will have no effect on South Africa, according to

Truworths Internationals shares fell by 6.5% on Tuesday after the company announced that the UK subsidiary, Office, was looking into restructuring it’s sizeable debt repayment which falls due late in 2020.

Office has a debt of around R805-million due for repayment or which, a large portion requires settlement in December 2020.

The fashion retailer, whose brands include Identity and YDE have employed advisers who will negotiate restructuring options and stressed that the groups operations will have no impact on SA or the rest of Africa.