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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. 

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