Tag: Steinhoff International

S.Africa’s Steinhoff proposes $1 bln settlement to solve legal disputes

JOHANNESBURG (Reuters) - Scandal-hit South African retailer Steinhoff International said on Monday it had proposed a settlement, worth up to around $1 billion, to settle a stream of legal claims...

Steinhoff agrees to sell stake in Conforama France to Mobilux

JOHANNESBURG (Reuters) - Scandal-hit Steinhoff International agreed to sell its shares in furniture retailer Conforama France to Mobilux Sàrl, the parent company of retailer BUT, for a nominal amount, the...

What you need to know about Steinhoff seeking to recoup payments made to ex-CEO

Steinhoff International said on Tuesday it had started legal proceedings against former Chief Executive Markus Jooste and ex-finance chief Ben La Grange to recover certain salary and bonus payments they got prior to 2017.

Steinhoff’s delayed FY earnings reveal €1.3bn loss

The Frankfurt listed retailer which has lost 97 per cent of its value since the 2017 accounting fraud scandal- blamed one-off expenses including professional fees of 117 million euro and impairments for the loss. Steinhoff shares are more than 5 per cent down in intra-day trading.

Benguela’s Zwelakhe Mnguni on lessons from Steinhoff saga

CNBC Africa's Kopano Gumbi spoke to Zwelakhe Mnguni, Chief Investment officer at Benguela Group about the ripple effect that the Steinhoff Saga has brought on.

What you need to know about Steinhoff’s US unit Mattress Firm shutting down 660 stores as it emerges out of bankruptcy

Steinhoff has been working on a deal to restructure the debt of some units.

Inside the Steinhoff saga, one of the biggest cases of corporate fraud in South African business history

Several University of Stellenbosch Business School academics look at the inner workings of Steinhoff and what led to its fall.

Steinhoff scandal does not pose financial stability risk – SARB

Steinhoff scandal does not pose financial stability risk – SARB