The decline in sales is reportedly due to COVID-19 related trading restrictions imposed worldwide.
Steinhoff International Holdings has reported a 6% decline in sales for the nine-months to the end of June.Steinhoff has been selling off assets and is battling for survival after uncovering a more than R100-billion hole in its accounts in 2017.
This caused a share collapse and multiple lawsuits from former business partners and aggrieved shareholders. Locally the retailer Pepkor Africa division lost about R5.7-billion in sales to the national lockdown.
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