BL PREMIUMAfter months of work untangling years of fraudulent transactions, Steinhoff has turned its focus to multibillion-rand lawsuits triggered by the scandal that threatens the survival of the global retail group.
Steinhoff uncovered a €6.5bn hole in its accounts in 2017, causing a share collapse and multiple lawsuits from former business partners and aggrieved shareholders that include former chair Christo Wiese.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.
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Steinhoff looks to sell off assets after R107.35 bln accounting fraudThe company has been making losses of up to R61.34 billion a year since it initially flagged holes in its accounts in December 2017. And Markus Jooste akabethelwa nangumoya...why is Shaun Abrahams not doing anything, why? Why aren’t we outraged? What is the PIC saying? TF
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Two questions Steinhoff CEO Louis du Preez is asked most oftenDu Preez says the company is co-operating with the authorities and is in touch with regulators almost daily
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Steinhoff considering disinvestments where ‘appropriate’Amid a €9.09bn debt load, the embattled retailer said on Tuesday it is considering further disposals as it closes in on a refinancing deal
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Rand’s volatility climbs to four-month highThe local currency’s implied one-week volatility is at its highest since March, with pressure coming from Eskom’s debt burden and the US-China trade war Dont blame Zuma pls
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