January 24, 2018 / 12:20 PM / 3 months ago

Steinhoff's Conforama unit secures 115 mln euros financing

PARIS, Jan 24 (Reuters) - French furniture chain Conforama, which is a unit of troubled South African group Steinhoff , said it had reached agreement with Tikehau Capital for a financing line of 115 million euros ($141.9 million) over three years.

Steinhoff, the owner of more than 40 retail brands including Poundland in Britain, is trying to plug a liquidity gap after it admitted “accounting irregularities” last month, which triggered an 85 percent share slide.

Earlier this month, Steinhoff secured a 60 million euros lifeline for its European operations.

$1 = 0.8106 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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