Retail giant Steinhoff rocked by accounting scandal
Retail giant Steinhoff rocked by accounting scandal
Johannesburg - Egypt Today
South Africa-based German-listed retail giant Steinhoff had been a darling of fund managers with its eclectic, sprawling, consumer-focused empire with outposts in 30 countries.
Its businesses include British high street discounter Poundland, France's Ligue 1 sponsor Conforama and Pep Africa, which runs the continent's largest clothing factory.
But on Wednesday the music stopped when Steinhoff revealed it was under criminal and tax investigation in Germany over suspicions of accounting irregularities and that its chief executive, Markus Jooste, had resigned. He had led the firm for two decades.
Shares listed in Frankfurt fell almost 60 percent in the hours following the bombshell announcement.
GMT 17:45 2017 Thursday ,14 December
S.Africa's Sibanye to buyout troubled LonminRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 11:41 2017 Thursday ,02 March
Public health awareness campaign launched
GMT 11:31 2018 Friday ,14 December
UN climate conference enters final day with little progress made
GMT 03:54 2014 Sunday ,06 April
Nick Cannon tweets \'I\'M RACIST!\' following \'whiteface\' controversy
GMT 23:04 2017 Friday ,17 February
Twin tragedies give survivor a new face — and a new life
GMT 07:24 2017 Monday ,04 December
NASA successfully fires Voyager 1 thrusters after 37 years
GMT 06:09 2017 Monday ,20 February
Australian man crashes car into oncoming traffic on major highway, killing 1 , injuring 2GMT 06:11 2012 Tuesday ,13 March
Nina Dobrev\'s feminine LBD
GMT 16:21 2013 Friday ,17 May
There's something about Charr
GMT 01:07 2015 Friday ,12 June
Israel denies spying on Iran talks hotelsGMT 05:56 2012 Sunday ,22 April
London in the Eighteenth Century by Jerry White
GMT 15:21 2018 Friday ,14 December
Al-Jaafari calls for stopping the politicization of humanitarian affair in Syria
GMT 11:39 2018 Thursday ,25 October
Egypt's Abdel Fattah El Sisi approves IOFS statuteGMT 09:41 2012 Sunday ,01 April
Job search dos and don\'ts
GMT 18:34 2012 Wednesday ,29 August
S Korea\'s Hanwha buys insolvent German Q-Cells
GMT 14:02 2014 Thursday ,27 November
Archbishop of Constantinople keeps Byzantium alive in TurkeyGMT 17:19 2012 Monday ,26 March
Hong Kong\'s new loans approved up 44.1%GMT 13:40 2011 Thursday ,09 June
Lost your iPhone? It\'s here
GMT 01:06 2015 Tuesday ,31 March
Iraqi president meets UN secretary-general
GMT 06:08 2016 Sunday ,09 October
Abdul Latif Jameel Academy fetes skills contest winnersGMT 13:14 2011 Saturday ,17 December
George Wassouf: I\'m alive!
GMT 11:33 2017 Saturday ,29 April
Kazem Al Saher will not stop singing the poems
GMT 10:34 2017 Thursday ,06 April
Actress Nadeen Najm keen to diversify her roles
GMT 06:43 2017 Monday ,18 September
Infiltration attempt of 83 people into Libya foiledGMT 16:28 2012 Monday ,30 April
Poet Sayyied Hijab at Zeitoun workshopGMT 13:51 2012 Thursday ,10 May
The storyline lacks imagination \'Jannat 2\'
GMT 13:09 2017 Thursday ,27 April
"Basic Instinct" director Verhoeven to make film about lesbian nuns
GMT 06:47 2017 Sunday ,31 December
Yemen’s Foreign Ministry calls for replacing UN coordinator
GMT 13:25 2013 Saturday ,13 July
James Franco to star in Gucci\'s new eyewear campaignGMT 20:08 2012 Thursday ,10 May
The victims of sex gangs are never heard
GMT 02:55 2016 Thursday ,22 December
KFAED, Cote d'Ivoire Sign Loan AgreementGMT 02:03 2012 Saturday ,28 January
Resort that Putin built for the 2014 Winter Olympics
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor