Ann Crotty Writer-at-large

It is possible that former partner Andreas Seifert was the main reason the Steinhoff share price collapsed in December 2017; possible that the seemingly permanent destruction of 90%-plus of shareholder value had little to do with former CEO Markus Jooste or the bizarrely overpriced transactions he oversaw during his tenure; possible that, even though after 20 months and a few billion rands of fees the board is still trying to work out the counter-parties to some of the deals done, Jooste is innocent of everything but being duped by some remarkably cunning individuals.

It’s possible an evil colony of gnomes is behind it all...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now