Steinhoff: Not so fast, Louis
The furniture retailer’s R16.4bn settlement offer to creditors is designed to help it walk away from 90 lawsuits. Will it succeed?
Louis du Preez, perhaps the least expressive CEO of any JSE-listed company, has the perfect poker face.
In his former incarnation as a corporate lawyer for Werksmans, that would have come in handy. As head of Steinhoff, a retailer trying to recover from a R106bn fraud and stitch together settlements with 90,000 out-of-pocket investors, it’s a vital attribute...