Post Profile

OPINION: Steinhoff shock - The warning signs were all there

JOHANNESBURG - The failure of Steinhoff has shocked even the most seasoned asset managers. It is the biggest corporate failure on the JSE. Allegations of earnings manipulations, uncontrolled acquisition sprees and tax fraud are just the tip of the iceberg. Off-balance sheet companies were set up to hide losses, executives collaborated with each other to defraud investors, and debt was taken on at a massive pace.
read more


Related Posts

Steinhoff plans share sale

Business & Finance : Business Report

Furniture and clothing retailer Steinhoff International moves to strengthen its finances following recent acquisitions. ||| Johannesburg - Steinhoff International plans to raise as much as 2.4 billion euros ($2.7 billion) by selling...

Steinhoff looks to sell non-core assets worth R160bn

Business & Finance : Business Report

JOHANNESBURG - Retail holding group Steinhoff said on Thursday it had received expressions of interest in non-core assets which would release a minimum of €1billion (R160 873 65 486) of liquidity into the company. In a statement rel...

Steinhoff profit rises 13%

Business & Finance : Business Report

Johannesburg - Steinhoff International Holdings NV said first-half earnings rose 13 percent as the acquisitive retailer that was started in South Africa reported revenue and margin growth across its household goods and general merch...

Steinhoff plans Africa Spinoff after $3 billion expansion

Business & Finance : Business Report

Johannesburg - Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The ...

Steinhoff pushes on with acquisition spree

Business & Finance : Business Report

Steinhoff International plans to buy 100 percent of Sydney-based retailer Fantastic Holdings. ||| Johannesburg - Integrated discount retailer Steinhoff International is pushing ahead with its acquisition spree, announcing on Friday ...


Copyright © 2016 Regator, LLC