Steinhoff may issue shares to settle multibillion-rand lawsuits

The embattled retailer is facing a series of lawsuits from former business partners and aggrieved shareholders

Steinhoff is considering issuing shares as part of its effort to settle multibillion-rand lawsuits related to an accounting fraud that left it fighting for survival.

Steinhoff uncovered a €6.5bn hole in its accounts in 2017, causing a share collapse and multiple lawsuits from former business partners and aggrieved shareholders, including former chair Christo Wiese.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

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