International retailer Steinhoff has been downgraded by rating agency Moody’s.
An application by a leading bank group to have one of the companies of former Steinhoff CEO Markus Jooste liquidated is expected to be heard in the High court in Cape Town on Friday.
South African retail group Steinhoff, which is fighting for survival following its disclosure of accounting irregularities, said tycoon and major shareholder Christo Wiese has stepped down as chairman. Steinhoff said in a statement on Thursday that Wiese had offered to resign to reinforce independent governance of the company and that the supervisory board had accepted […]
Parliament’s Standing Committee on Public Accounts (Scopa) now says it will only call the executives of retail giant Steinhoff early in the new year.
Shares of retailer, Steinhoff, continue to claw back some value after a massive sell-off last week linked to concerns about dodgy accounting.