JOHANNESBURG (Reuters) - South African retailer Edcon needs 3 billion rand ($226 million) in funding over the next three years to "fix" the business, its chief executive Grant Pattison said on Thursday.
Edcon has been grappling with an over-leveraged capital structure for several years, after troubles in its credit business in 2014 coincided with an economic slowdown and weak consumer spending at home.
($1 = 13.2516 rand)
(Reporting by Nqobile Dludla; Editing by Susan Fenton)
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| 503.6 PTS | +0.07% | +2.43% | - | ||
| 170.5 PTS | -0.41% | +2.74% | - | ||
| 2,146 PTS | -0.01% | +1.26% | - | ||
