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Steinhoff Rebrands Pepkor Europe To Pepco Group
Steinhoff Says FSCA Fines Co 1.5 Bln Rand For Contravention Of Financial Markets Act
Steinhoff Says Resolutions Proposed At AGM Were Passed By Requisite Majority
Steinhoff International Holdings NV is a Germany-based company that is active in the retail of household goods, apparel, as well as in the automotive industry. The household goods business area includes the retail of furniture, building materials and consumer electronics through the Company's subsidiaries Lipo Einrichtungsmaerkte, Poco and Conforama. In the apparel business area the Company operates, among others, through Pepco and is engaged in retailing of women's, men's and children's wear, shoes, and accessories. The Automotive business area includes car rental activities through its subsidiary Hertz, as well as logistics services, warehousing and distribution, agricultural services, supply chain consulting, mining services and passenger transport through its subsidiary Unitrans. The Company operates as a holding company and is present in Europe, Asia, Africa and Australia.
Heather Joan Sonn
Independent Chairperson of the Supervisory Board
Louis Jacobus du Preez
Chief Executive Officer, Management Board Member
Peter N. Wakkie
Independent Deputy Chairperson of the Supervisory Board
Theodore de Klerk
Chief Financial Officer, Management Board Member
Chief Restructuring Officer
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Steinhoff International warned of the lingering damage from a massive accounting scandal after the South African retail group reported a 1.2 billion euro (£1 billion) annual loss, sending its volatile shares down 8 percent.
South African retailer Steinhoff International Holdings N.V. said on Wednesday it had postponed a hearing with shareholders who are petitioning looking for an inquiry into the company before a Dutch court.
Troubled South African retailer Steinhoff International Holdings NV said on Wednesday it had raised 4.8 billion rand ($332 million) from the sale of its 26 percent stake in KAP Industrial Holdings Ltd .
South African retailer Steinhoff International Holdings N.V. said on Thursday it had received a petition by a group of shareholders looking for an inquiry into the company before a Dutch court, the latest addition to its growing troubles.
South African retailer International Holdings N.V. <SNHJ.J> said on Tuesday a former partner firm of its European operations claims it is owed about 291 million euros (£256.62 million or $331 million) by the company.
A probe into accounting irregularities at Steinhoff International <SNHJ.J> <SNHG.DE> and the release of the retailer's restated results have been delayed, it said on Thursday, sending its shares down as much as 21 percent.
Steinhoff International Holdings, now expects to publish its group audited financial statements for 2017 and 2018 by mid-April 2019, as a forensic investigation by auditors PricewaterhouseCoopers (PwC) has been delayed, the retailer said on Thursday.
Steinhoff's <SNHJ.J> Mattress Firm Inc, the largest U.S. mattress retailer, has filed for voluntary bankruptcy protection, giving it breathing room to restructure and shore up its finances as its South African parent company fights for survival.
Shareholders of South Africa's Steinhoff Africa Retail (STAR) have approved changing the company's name to Pepkor Holdings in a move to further distance the company from its crisis-hit parent, Steinhoff International <SNHJ.J> <SNHG.DE>.
Steinhoff's <SNHJ.J> <SNHG.DE> creditors have agreed to hold on their debt claims for three years, the embattled retailer said on Friday, throwing a lifeline for the South African retailer caught in the throes of an accounting scandal.
Steinhoff's creditors agreed to hold on their debt claims for three years, the embattled retailer said on Friday, throwing a lifeline for the South African retailer caught in the throes of an accounting scandal.
Steinhoff extended for a second time on Wednesday the "early bird fee" deadline for creditors to sign a three-year agreement to hold off their debt claims, as the scandal-hit South African retailer battles to stay afloat.
Steinhoff extended its "early bird fee" deadline for the second time on Wednesday for creditors to sign a three-year agreement to hold off their debt claims, as the scandal-hit South African retailer battles to stay afloat.
South African retailer Steinhoff <SNHJ.J> <SNHG.DE> said it has booked $12 billion in charges related to accounting irregularities discovered last year, as it reported a widened half-year loss.
Troubled South African retailer Steinhoff reported a hefty 152 million euros ($177 million) half-year operating loss on Friday, hit by writedowns related to an accounting scandal.
Troubled retailer Steinhoff said on Friday it had reached agreement on commercial terms for its restructuring plan with creditors and also got approval for a further debt standstill.
Steinhoff has asked for a further three-week breathing space from its creditors to allow it time to finalise a debt restructuring agreement, the retailer said on Wednesday.
The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday: ** Brazil's antitrust watchdog Cade approved buyout firm Advent International's acquisition of Walmart Inc's Brazilian operations, and sought no additional asset sales. ** Shares...
Crisis-hit Steinhoff <SNHJ.J> will sell Austrian property assets valued at 490 million euros (428.3 million pounds) to tycoon Rene Benko's Signa Holding, it said on Friday, the latest sale by the South African retailer following an accounting scandal.
South African retailer Steinhoff International Holdings N.V. said it had agreed to sell Kika/Leiner furniture and household goods retail unit to Austrian property and retail investor Rene Benko's Signa Holding GmbH for a "nominal amount".
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