Pep&Co may be gearing up for major UK and Ireland expansion as it opens in more Poundland stores, but once they’re open, it will be forging ahead without its current managing director and trading director.
Steinhoff has reported its former chief executive Markus Jooste to South Africa's elite Hawks police unit over suspected corruption, the company's acting chairwoman told a parliamentary committee hearing on Wednesday.
South Africa’s civil servants union has teamed up with the government pension fund to pursue Steinhoff for around $1.4 billion of pensioners’ money lost as a result of an accounting scandal at the troubled retailer.
Ben la Grange on Thursday stepped down as chief financial officer and as a management board member of Steinhoff "to focus on the preservation and procurement of liquidity in the group", the South African retailer said.
Steinhoff said on Tuesday it had started to lose credit lines from lenders and was still unable to determine the scale of accounting irregularities which have wiped more than $10 billion off its market value.