"The group has been relying on asset realisations to fund ongoing working capital, which is obviously, in the long run, not sustainable," said acting group CEO Danie Van der Merwe. This included the sale of Steinhoff's interest in PSG Group, some of its shares in KAP Industrial and Steinhoff Africa Retail (Star), as well as certain assets in Europe. Read: Steinhoff raised R3.75bn from Africa unit share sale The group however revealed at the AGM that a restructuring plan will be presented to creditors next month.