Investment offer delays Ster-Kinerkor rescue plan
Ster-Kinekor’s road to recovery from the financial fallout of the Covid-19 pandemic has seen a slight delay as business rescue practitioner, Steyn Smyth, requested the deadline for the publication of its business rescue plan be extended to January.
Smyth says the delay is due to receiving an updated investment offer from London-based special situations investment firm, Blantyre Capital, reports Moneyweb.
According to Smyth, the firm will be partnering with Cape Town-based specialist private credit investment management firm, Green Point Capital.
In October he made the same request – to extend the publication of the business rescue plan, then to November.
Smyth said the coming weeks will be used to finalise the discussions around the transaction and to assess how creditors will be affected.
The report notes the cinema group has been in business rescue since January this year.
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