Already struggling to distance itself from its scandal-ridden parent, Steinhoff Africa Retail (Star) is having to confront another crisis. On Tuesday, Star’s wholly owned subsidiary Tekkie Town was thrown into turmoil after its CEO and chief operating officer walked out, after months of acrimony that saw Tekkie Town saying earlier in June it would sue Star over an earn-out agreement with Steinhoff. Star’s share price ended Tuesday 4.61% lower at R16.57. The new drama is another unwelcome distraction for Star’s management, who are struggling to contain the fallout from an accounting scandal at Steinhoff International, which wiped out more than 90% of the parent’s value. That has also seen Star’s corporate governance questioned after it decided to set aside money to bail out executives whose incentive schemes were tied to Steinhoff’s share price. Hostile treatment Investors will question whether the ongoing hostility between Star and Tekkie Town founder Braam van Huyssteen could have ...

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