ROB ROSE: End looms for Steinhoff as case against Jooste builds
It’ll take a miracle to keep Steinhoff alive — but the real interest is in what happens to former CEO Markus Jooste, who caused the mess in the first place
01 June 2023 - 05:03
Steinhoff, having survived five years beyond its sell-by date, will soon come face to face with its own mortality.
This week votes were tallied over a controversial “restructuring plan” that will see its assets put into a new company and slowly sold, ultimately culminating in Steinhoff’s liquidation. Hundred percent of its creditors, including hedge funds which are owed €10.4bn, voted in favour; 89.6% of shareholders voted against...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.