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Steinhoff to dissolve as Germany issues arrest warrant for Markus Jooste

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Dutch court approves its debt restructuring plan, heralding the end of the retailer, but restructuring process allows it to avoid bankruptcy

Steinhoff will be dissolved and its assets gradually sold off after a Dutch court approved its debt restructuring plan, heralding the end of the retailer that survived for six years after being revealed as the site of SA’s biggest fraud.

Bloomberg also reported on Wednesday that authorities in Germany, where Steinhoff has the primary listing, have issued an arrest warrant for former CEO Markus Jooste, who is alleged to be the mastermind behind the multibillion-rand accounting fraud that shocked investors and politicians...

 

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