WATCH: Court approves Steinhoff’s settlement bid

Following news of an accounting scandal in 2017, Steinhoff has been dealing with legal battles that have threatened the company’s existence, but the retailer can now put those issues to bed.

The Western Cape High Court has approved the group’s bid to have its R24bn settlement proposal made final and binding, which will allow Steinhoff to make payments to the affected parties.

Business Day TV spoke to Steinhoff CEO Louis du Preez about what this victory means for the retailer’s recovery efforts moving forward.