Steinhoff undertakes to defend global settlement amid court bid
Former owners of Tekkie Town have launched the court bid, which Steinhoff says it will oppose amid global settlement process in the Netherlands
13 May 2021 - 19:25
Steinhoff has vowed to oppose the court application by former owners of discount retail footwear and apparel company Tekkie Town to liquidate the company, saying it would “vigorously defend” its proposed global settlement.
Business Day reported on Wednesday that the former owners of Tekkie Town, which Steinhoff acquired in 2016, had launched the court bid. This comes at a time when the global furniture company is cleaning up its image and balance sheet after revelations of a R100bn-plus accounting fraud in 2017...
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