Steinhoff announces dividend freeze, creditor waiver proposals

2018-02-02 16:16

The retailer is set to recommend that certain of its financial creditors support it by providing waivers, as it seeks to hold onto its money.

Tribunal approves merger of Steinhoff subsidiary

2018-01-29 19:23

The Competition Tribunal has conditionally approved a merger whereby Unitrans Automotive acquires Action Ford’s vehicle dealership business.

PSA wants to join class action case against Steinhoff

2018-01-25 16:48

The Public Servants Association says it wants to recoup money the Public Investment Corporation had invested in Steinhoff via state employee pension funds.

Our fight is not with Sun Met, but against Markus Jooste - union

2018-01-24 16:38

The Public Servants Association says that while a protest is set to take place at the race, it would be a broad “solidarity protest” against Markus Jooste, and not against the race itself.

Steinhoff wants to sell 29.5 million PSG shares to boost cash reserves

2018-01-22 11:45

The embattled Stellenbosch-headquartered global furniture group says the sale of 29.5 million shares in PSG Group Limited will only go ahead if it is offered an 'acceptable' price.

Jayendra Naidoo steps down from Steinhoff supervisory board

2018-01-18 09:51

Jayendra Naidoo has tendered his resignation from the Steinhoff International board to focus on his job as chairperson of Steinhoff’s subsidiary Steinhoff Africa Retail Limited.

German criminal probe into Steinhoff could still take 'several months'

2018-01-12 19:48

Four as yet unnamed employees are being investigation on suspicion of falsifying company balance sheets.

Steinhoff accounting scandal dates further back

2018-01-02 11:26

The accounting scandal rocking embattled Stellenbosch-based furniture and household goods retailer Steinhoff is still growing.

Sanlam warns investors of Steinhoff setback

2017-12-27 14:45

Steinhoff’s share price collapse has knocked about 1% off the annual returns of typical Sanlam investors, the firm has warned.

Steinhoff on brink of dropping off JSE's top 100 company list

2017-12-21 13:21

Once considered the “Ikea of Afrca”, shares in the Stellenbosch-headquartered conglomerate have fallen 91% this month.


JSE warns Steinhoff subsidiary over late financial reports

2018-02-01 14:14

The local stock exchange has warned a subsidiary of Steinhoff that it will suspend trade in its bonds if it does not submit its annual report by the end of February.

Steinhoff files show Jooste 'repeatedly lied' to investors and regulators - PSA

2018-01-26 12:53

The Public Servants Association says a preliminary review of documents shows Steinhoff ex-CEO Markus Jooste repeatedly provided assurances in reports that the group's financial health was sound.

PSA won't disrupt Sun Met, but Cosatu may over Jooste

2018-01-25 14:20

While the Public Servants Association says it won't disrupt the upcoming Sun Met horse race, Cosatu in the Western Cape is set to picket at the gates of Kenilworth Racecourse.

Steinhoff raises R7.1bn from sale of PSG shares

2018-01-23 07:43

The sale is the latest in a line of disposals aimed at shoring up the retailer’s battered balance sheet.

Steinhoff cites lender support as retailer strives for recovery

2018-01-18 19:04

The Stellenbosch-headquartered retailer said it had won the support of South African lenders, as it attempts to survive an accounting scandal.

Goldman Sachs is said to join JPMorgan in taking Steinhoff loss

2018-01-13 11:55

The group is likely to disclose a loss linked to the embattled SA retailer, according to people briefed on the firm’s financial results.

JPMorgan R1.7bn loan loss said to be tied to Steinhoff

2018-01-12 15:00

The bank's equities business has taken a big hit from the Stellenbosch-headquartered retail conglomerate.

Another blow for Steinhoff as Moody's again wields downgrade axe

2017-12-28 12:29

Ratings agency Moody's has downgraded Steinhoff to Caa1, the seventh rung of non-investment grade, which indicates high credit risk.

ABSA wants court to liquidate Jooste company, recover R226 million

2017-12-21 18:24

ABSA is taking a company co-directed by former Steinhoff International CEO Markus Jooste to court in an effort to liquidate it and recoup R226m.

Now Steinhoff faces German investor lawsuit

2017-12-20 13:23

Beleaguered Stellenbosch-headquartered retail giant Steinhoff is now facing a German investor lawsuit, after losing more than 85% of its market capitalisation in two weeks.

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.