Please sum up this article and why immediate Liquidity needs

Please sum up this article and why immediate Liquidity needs to be largely addressed :)

https://www.bloomberg.com/news/articles/2018-01-26/steinhoff-says-immediate-liquidity-needs-are-largely-addressed-jcw28qje?cmpId=yhoo.headline&yptr=yahoo

Solution

I think you have misread the heading, it says immediate liquidity needs have been largely addresses( i.e. the problem is solved) and not why it is to be addressed.

To sum up, the article talks about the accounting irregularities uncovered and the inquiry of PwC undergoing. Here, mainly the plans for how they are going to repay their lenders with fresh borrowings in US, UK, and France have been discussed along with possibilities of the restructuring of the australian business. In the middle part of the article it is disclosed that repayment will be funded with proceeds from the sale of shares in financial services firm PSG Group Ltd., the firm said. It also confirmed it’s seeking to redeem all of the debt of its South African holding companies, and 8 billion rand ($671 million) of bonds.