January 31, 2019 / 2:15 PM / 17 days ago

South Africa's Edcon needs $226 mln over three years to "fix" business -CEO

JOHANNESBURG, Jan 31 (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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