Embattled Steinhoff International is still selling assets to stay afloat in the wake of the accounting scandal that has wiped more than nine-tenths off its value. The company this month sold factories in Poland that had been founder Bruno Steinhoff's first push into owning his own plants in Eastern Europe after the Cold War, it announced this week. Steinpol, which consists of eight factories in Poland and one in Hungary, was sold for €26.5m. The unit had been instrumental in former CEO Markus Jooste's strategy to source and produce goods in lower-cost emerging economies and sell into developed markets. Jooste resigned in December 2017 as the group flagged "accounting irregularities" and postponed the release of its financial statements, sending Steinhoff shares crashing. Though the Steinpol deal was reported in the European furniture trade media last year, Steinhoff International only announced it this week, describing the unit as a "non-core manufacturer". Until only 14 months ago ...

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