Business In The News South Africa

Steinhoff says it still requires near-term liquidity for some businesses

JOHANNESBURG, January 5 – Retailer group Steinhoff International Holdings N.V. said on Thursday significant near-term liquidity was still required in some of its business units although it had has achieved some degree of stabilisation after revelations of accounting irregularities triggered a run on its shares last month.     Steinhoff said its CFO Ben la […]

Business In The News South Africa

Steinhoff accounting scandal sinks shares, CEO exits

JOHANNESBURG, December 6 – Steinhoff International’s shares crashed on Wednesday after it revealed accounting irregularities and its CEO quit, shocking investors who had backed the rapid reinvention of a South African furniture chain into an international retail empire.     The company said late on Tuesday that “new information has come to light today which […]