WATCH: Making sense of what's happening at Steinhoff | Fin24
 
  • Growing Demand

    Automaker Ford says it will be adding 1 200 new jobs and a third shift at its Pretoria assembly plant.

  • 'Deeply Upsetting'

    Dan Matjila, the former CEO of the Public Investment Corporation, has denied receiving a R5m bribe.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

WATCH: Making sense of what's happening at Steinhoff

Dec 08 2017 16:15
Moeshfieka Botha

Cape Town - Steinhoff International Holdings, the prized jewel in many an investment portfolio – has gone from hero to nearly zero in less than 60 hours.

On Monday the group's board announced it would not release its full year financial results on time due to a German criminal and tax investigation.

On Tuesday afternoon came the abrupt resignation of its CEO Markus Jooste and news of an internal prove by PwC, which caused its share price to plummet.

Steinhoff’s woes, and those of its investors, look set to continue. 

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...