Poundland owner Steinhoff shares CRASH amid accounting scandal

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Parts in South African group Steinhoff International, whose brands also take in Harveys and Bensons for Beds, plunged after it flagged “accounting irregularities”, which it has beseeched accountants PwC to investigate.

Its chief executive, Markus Jooste, has resigned, with its chairman, Christo Wiese, winsome on an interim executive role.

The company said late on Tuesday that he had resigned with unhesitating effect Steinhoff said it would publish its annual figures “when in a situate to do so”, and will “determine whether any prior years’ financial statements purposefulness need to be restated”.

The group said in a stock exchange announcement: “Steinhoff wish update the market as the aforesaid investigation proceeds.

“The company will spread about the audited 2017 consolidated financial statements when it is in a position to do so.

“In supplement, the company will determine whether any prior years’ financial asseverations will need to be restated.”

Steinhoff owns 40 local stigmatizes in more than 30 countries.

The company sells clothing, footwear and consumer goods, as properly as various furniture.

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