The Standing Committee on Public Accounts (SCOPA) will for the first time meet with the leadership of the Public Investment Corporation (PIC) in Parliament on Wednesday.
Steinhoff has appointed commercial director Louis du Preez, a key figure in its attempts to recover from a financial crisis, as its permanent chief executive, sending shares in the South African retailer as much as 15% higher on Monday.
Steinhoff said on Wednesday investors who are suing the crisis-hit firm had agreed to suspend litigation until next year, allowing the retailer time to focus on its recovery.
South African retailer Steinhoff, has asked creditors for a one-month extension relating to its debt restructuring as it negotiates documents required to implement the plan, it said on Monday.
Steinhoff’s shares fell more than 9 percent on Thursday to a near two-month low after a global market rout and a report by Bloomberg saying the retailer’s former CEO advised friends to sell the firm’s stock days before the shares collapsed.