The SPAR Group Ltd. (JSE: SPP) plans to sell its head office and other properties and lease its fleet as part of measures to reduce its ZAR 9 billion debt pile. The group said in the 2024 annual report that its engagement with its lenders in the year under review focused on its debt structure and plans to reduce the debt and the ability of the SA business to take on the residual Polish debt that had been guaranteed. The company was exploring several measures to reduce its gearing, including disposing of its Pinetown headquarters.

"We are in the process of selling noncore property assets, including the Pinetown head office, the Knowles Shopping Centre and the group's West Rand property, which will allow us to free up capital that will be used to reduce debt," it said. "We are exploring leasing our fleet, which enables us to unlock capital tied up in fixed assets. We are actively marketing certain of the corporate stores currently owned, which will not only generate capital, but also reduce their negative financial impact".