Know thy self: Steinhoff grapples with its future
Steinhoff’s first presentation since it hit the wall wasn’t just car crash value. There may yet be something to salvage
Could there be life for Steinhoff after its creditor agreement expires in December 2021? Steinhoff CEO Louis du Preez seems to think so. But to get there, Steinhoff will have to tackle its ruinous debt and a mountain of litigation.
Reducing debt means more assets are to be sold, with Steinhoff becoming a holding company with partial stakes in businesses such as Poundland and Pepkor Europe.