Embattled retailer Steinhoff's plans to restructure its business could be dealt a blow after the Western Cape high court blocked its ability to change the ownership of discount footwear retailer Tekkie Town.  Any future sale or change in ownership of Tekkie Town, which is owned by Pepkor, will have to wait until such a time as the courts have ruled on whether the business should be returned to its previous owners. Steinhoff owns 71% of Pepkor.  This follows an application brought last week by Tekkie Town’s previous shareholders, including its former CEO, Bernard Mostert, and founder, Braam van Huyssteen, which raised concerns that Steinhoff may attempt to sell the business or raise money by issuing shares as part of its ongoing efforts to restructure its business.  Steinhoff is under investigation after allegations of accounting irregularities surfaced in December 2017. This led to the 90% collapse of its share price and the resignation of its former CEO, Markus Jooste.  The stru...

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