ARTICLES RELATING TO STEINHOFF INTERNATIONAL

Steinhoff stock above R3 apiece for the first time since April

2018-07-13 14:18

Shares in the embattled global retailer have been on the rise – albeit off a low base – since it announced details of its proposed restructuring earlier this week.

Steinhoff asks creditors for additional-three week lifeline

2018-06-27 17:17

The troubled retailer says it has asked creditors to extend debt lifelines to two of its European subsidies by an additional three weeks.

Steinhoff shares soar on support for standstill from most creditors

2018-06-07 11:20

The so-called support letter for Steinhoff’s restructuring plan is the first step taken by creditors toward a debt agreement with the the embattled Stellenbosch-headquartered company.

Steinhoff now 98% down on all-time high

2018-05-30 13:29

After extending its slide from the previous session's 10% drop, shares in global furniture and retail conglomerate Steinhoff International reached a new low in early trade.

STAR raises R18bn to repay Steinhoff International

2018-05-23 13:48

Steinhoff Africa Retail has successfully raised R18bn from financial institutions to repay its shareholder funding provided by Steinhoff International Holdings.

Steinhoff on hunt for executives behind accounting scandal

2018-05-11 10:03

Steinhoff International’s finances are in a mess. Now it’s going after those who presided over the fiasco.

Markus Jooste's investment firm hires business rescue experts

2018-05-08 11:37

Steinhoff International's ex-CEO Markus Jooste’s personal investment company has hired two business rescue practitioners as it embarks on an asset sale to repay creditors.

Steinhoff sells out of Hungary retailer in latest disposal

2018-04-26 11:36

Steinhoff International has sold out of Hungarian electronics retailer Extreme Digital after its partners moved to cut ties with the company embroiled in an accounting scandal.

Bank of America said to seek some margin loan sales after Steinhoff loss

2018-03-21 14:13

Bank of America is offloading some margin loans after losing $292m on soured credit to the former Steinhoff chair Christo Wiese, claim people in the know.

Why SA needs formal rules for class action lawsuits

2018-03-14 07:18

South Africa needs comprehensive legislation and court rules regulating class actions suits to better serve the principle of access to the justice system, says Theo Broodryk.

 

Steinhoff write-offs pass R198 billion as accounts crisis deepens

2018-06-30 13:06

Steinhoff has written off the value of assets by €12.4bn (about R198bn) and counting, as the embattled retailer works out what it can salvage from the wreckage of an accounting scandal.

THE STEINHOFF SAGA: Part one - The making of a corporate giant

2018-06-19 20:07

In a series of in-depth features, the University of Stellenbosch Business School sheds light on Steinhoff's remarkable growth – and spectacular collapse. This is Part One: from humble beginnings in Germany to a massive global holding company.

Steinhoff wins support for standstill from most creditors

2018-06-07 09:08

Steinhoff International has won support from a majority of its key creditors for a standstill agreement through the end of June, giving the retailer breathing space to avoid insolvency proceedings.

Steinhoff Africa Retail parts ways with auditor Deloitte.

2018-05-23 17:07

STAR says PricewaterhouseCoopers has been appointed as its external auditor.

Markus Jooste no 'puppet master', says son-in-law on controversial WhatsApp message

2018-05-23 06:57

Allegations that former Steinhoff CEO Markus Jooste still plays a role in decision-making at Mayfair are "unwarranted and baseless", says his son-in-law.

Steinhoff says hole in accounts is deeper than first thought

2018-05-10 16:41

Steinhoff International says an investigation into the overstatement of profit and treatment of off-balance-sheet entities will result in further material impairments beyond the $7.2bn previously announced.

Steinhoff settles lawsuit, sells half of POCO for R8bn

2018-04-26 14:59

Struggling global retailer Steinhoff has agreed to end a bitter dispute by selling half of German furniture chain POCO to former business partner Andreas Seifert.

A basic knowledge of finance could save SA from another Steinhoff

2018-04-13 06:00

If more people know how to recognise financial red flags in business, the damage caused by corporate fraud - or even honest mistakes - could be radically reduced, says Kumeshnee West.

Steinhoff’s a black box too big to ignore for vulture investors

2018-03-14 09:12

Steinhoff may look like a non-starter for most investors: its former CEO is under investigation and there’s the matter of the "missing" R60bn in cash. Yet buyers have piled in.

Steinhoff to sell part of stake in KAP to help settle debt

2018-03-13 11:08

Steinhoff International Holding has decided to launch an accelerated book-build of up to 450 million ordinary shares in KAP Industrial Holdings.

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