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Tag Archives: Steinhoff

Wiese’s move adds more woes to Steinhoff

27 April 2018, 6:35 AM

The scandal-hit retail giant, Steinhoff, faces an uncertain future after its former chairman, Christo Wiese, announced he would sue the company for R59 billion.

Ex-chairman Wiese stuns Steinhoff with $5 billion lawsuit

26 April 2018, 7:50 PM

Businessman Christo Wiese stunned crisis-hit Steinhoff with a $5 billion lawsuit on Thursday, sending shares of the South African multinational retailer fighting for survival after it uncovered accounting irregularities down 17 percent. The 59 billion rand ($5 billion) claim is the latest setback for the retailer in which Wiese was chairman and biggest shareholder until […]

Steinhoff settles lawsuit in Germany over ownership of retailer POCO

26 April 2018, 5:18 PM

South African retailer Steinhoff said on Thursday it agreed to sell a 50 percent stake in German furniture chain POCO to Andreas Seifert, settling a German lawsuit on the ownership of the business. Seifert claims half-ownership of POCO, while Steinhoff had said he had to be bought out due to unspecified actions by his company, […]

Steinhoff shareholders to voice concerns over their losses

20 April 2018, 3:19 PM

Shareholders of retail giant Steinhoff are expected to voice their concerns regarding the losses incurred since the share price collapse was triggered in December.

Absa denies role in Steinhoff shareholders’ losses

19 April 2018, 2:09 PM

Absa Bank, a wholly-owned subsidiary of Barclays Africa Group Limited (BGL), has distanced itself from compiling or reviewing the financial statements of Steinhoff International, saying that it was only the retailers’ Johannesburg Stock Exchange (JSE) transaction sponsor.

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