Chris Bryant: Mattress Firm bankruptcy is a corporate nightmare

2018-10-09 06:00

Steinhoff’s decision to pay a 115% premium to acquire Mattress Firm in 2016 was inexplicable. So it’s odd that Steve Stagner, who helped negotiate the sale and profited handsomely, is in charge still, writes Chris Bryant.

Video
 WATCH: Markus Jooste's top quotes to Parliament

Markus Jooste, the former head of the embattled retailer Steinhoff, fielded questions from MPs in Parliament on the conglomerate's governance and share price collapse. These are News24's top picks. Watch.

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Christo Wiese: All I want to know from Steinhoff's Markus Jooste is, ‘Why’?

2018-09-04 19:20

Almost nine months to the day since Steinhoff began its precipitous fall on December 6 last year, its 57-year-old former CEO Markus Jooste will come out of seclusion to face a grilling at Parliament on Wednesday.

#Steinhoff: Seven things you need to know from La Grange's testimony

2018-08-29 20:01

Former Steinhoff CFO Ben la Grange presented evidence before a joint sitting of four Parliamentary committees on Wednesday. Here are the key things you need to know.

Markus Jooste to testify under oath before Parliament in early September

2018-08-28 15:18

It will be the first time that Jooste has publicly spoken out about what happened at Steinhoff since he abruptly resigned in December 2017.

Parliament to order former Steinhoff CEO Markus Jooste to testify

2018-08-21 18:56

Jooste has not spoken publicly about what transpired at Steinhoff since he abruptly stepped down from his role as CEO in early December 2017.

Steinhoff ex-CFO Ben la Grange could be ordered to appear in parliament

2018-08-21 13:00

Steinhoff International former chief financial officer Ben la Grange could be legally ordered to appear before a parliamentary committee after declining to attend a scheduled hearing next week.

Hawks seeks Interpol help with Steinhoff

2018-08-15 14:14

The Hawks has asked Interpol to help investigate financial wrongdoing at Steinhoff International after the global retailer reported a hole in its accounts.

Steinhoff Africa Retail to officially change name to Pepkor in mid-August

2018-08-03 15:02

STAR previously said that the Pepkor brand had an 'incredible legacy and history of success'.

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.

 

Shareholders win right to sue Steinhoff in Netherlands

2018-09-26 18:27

A shareholder group got a green light to sue Steinhoff International in the Netherlands, kicking off a legal fight to recover some of the billions of dollars investors lost.

‘It wasn’t me’ – decoding former Steinhoff CEO Markus Jooste

2018-09-05 14:25

Markus Jooste delivered a remarkable performance in Parliament on Wednesday during a joint meeting of various parliamentary committees, pinning the virtual collapse of Steinhoff International on external factors rather than his own conduct.

Steinhoff to sell remaining interests in POCO for R4.7bn

2018-09-04 11:25

In April, the embattled retail conglomerate had already agreed to sell half of the German furniture chain to former business partner Andreas Seifert.

Steinhoff's former CFO Ben La Grange to appear before Parliament

2018-08-29 07:27

La Grange will appear before a joint sitting of four Parliamentary committees to talk about “institutional flaws and challenges” facing the country’s financial regulatory framework.

Parliament confirms subpoena served on Markus Jooste to testify next week

2018-08-23 18:03

Jooste, who abruptly resigned from Steinhoff in December 2017 after auditors flagged accounting irregularities in its books, has not spoken publicly about what transpired there..

Steinhoff suspends ex-CFO Ben La Grange amid accounts probe

2018-08-21 17:01

While La Grange stepped down from his roles at the firm earlier this year, he remained on short-term consultancy deals.

Steinhoff appoints Lehman Brothers insolvency veteran to board

2018-08-16 12:59

Steinhoff International has moved to appoint insolvency expert Paul Copley to its supervisory board as the troubled global retailer seeks to strengthen management.

Firms linked to Markus Jooste, Claus Daun bagged millions dealing in cheap JD stock

2018-08-08 08:38

A few years after taking the reins of the retailer that became Steinhoff International, Markus Jooste was involved in a series of complex trades that yielded a multimillion-rand payday for companies linked to him and board member Claas Daun.

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.

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