We've got news for you.

Register on Sunday Times at no cost to receive newsletters, read exclusive articles & more.
Register now

Steinhoff now doing its best to irritate some very big hitters


Steinhoff now doing its best to irritate some very big hitters

Litigants do not appear to be happy about the debt plan and regard it as part of Steinhoff’s stalling tactics

Ann Crotty

In recent months during various public presentations – to analysts, shareholders and MPs – Steinhoff has stressed that one of the most pressing issues it faces is the number of legal proceedings that have been initiated against it.

The other pressing issue is its crippling debt. Having cannily, but expensively, stabilised the debt situation, the Steinhoff board is now focused on dealing with angry litigants.

Some of the litigants lost hundreds of millions of rands when the share price imploded (https://www.sharenet.co.za/v3/quickshare.php?scode=SNH) after the December 2017 announcement of “accounting irregularities”...

This article is reserved for Sunday Times Daily subscribers.
A subscription gives you full digital access to all Sunday Times Daily content.

Sunday Times Daily

Already subscribed? Simply sign in below.

Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.

Previous Article