March 28, 2018 / 12:50 PM / 4 months ago

South African police probing three criminal cases against Steinhoff

CAPE TOWN (Reuters) - South Africa’s elite police unit, the Hawks are investigating three criminal cases against crisis-hit Steinhoff International (SNHJ.J) (SNHG.DE), a senior official at the unit told parliament on Wednesday.

FILE PHOTO - A logo is seen on the facade of a discount furniture retailer Conforama store in Paris, France, April 22, 2016. REUTERS/Charles Platiau

Steinhoff, which has more than 40 retail brands that include Conforama and Poundland, is in a fight for survival after admitting “accounting irregularities” in December, wiping about 85 percent off its market value and triggering a liquidity crisis.

Reporting by Wendell Roelf; Writing by Nqobile Dludla; Editing by James Macharia

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