Business In The News South Africa

Markus Jooste to testify in Parliament on Steinhoff next week

PARLIAMENT, August 29- Former Steinhoff chief executive Markus Jooste has been given a week’s reprieve to appear and testify under oath before four parliamentary committees following an agreement reached at court on Tuesday. Parliament made public the court order which spells out an agreement reached between its lawyers and Jooste’s that the disgraced former Steinhoff […]

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 […]