ACCOUNTING FRAUD
Steinhoff pays another R1.3bn in advisory fees
Once again the embattled global retailer has reminded shareholders of its precarious going-concern status
15 July 2019 - 05:10
Embattled global retailer Steinhoff International forked out another R1.3bn in advisory fees as it continued to repair the damage caused by a massive accounting fraud that unfolded in December 2017.
The third set of financial statements to be released within two months continued to be dominated by hefty advisory fees and near-crippling finance costs and revealed a loss of about R9bn for the six months to end-March 2019...
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