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, writes robrose_za.
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...
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ROB ROSE: End looms for Steinhoff as case against Jooste buildsIt’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, writes robrose_za.
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