Steinhoff shares plunge 17.9% after 2017 report sheds new light
Picture: BLOOMBERG/DWAYNE SENIOR
The group said after the market’s close on Tuesday, ahead of a public holiday in SA on Wednesday, that there is “significant doubt” about its ability to continue as a going concern. The loss-making group faces hefty claims from shareholders. Once the world’s second-largest furniture retailer, Steinhoff’s market value collapsed after it said it had uncovered “accounting irregularities” in December 2017. At the same time, former CEO Markus Jooste stepped down.
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