Steinhoff Update: Second shoe drops – 2016 financials “cannot be relied upon”

Steinhoff has informed shareholders that accounting irregularities go back further than the 2017 financial statements. Therefore, the 2016 financials should be disregarded.
Published on: 

Thursday 14 December 2017 from Steinhoff International

  • The group has informed shareholders that accounting irregularities go back further than the 2017 financial statements. As a result, the audited results for the year to end September 2016 "will need to be restated and can no longer be relied upon." 
A Steinhoff International Holdings NV logo sits on display outside the company's offices in Stellenbosch. Photographer: Waldo Swiegers/Bloomberg
A Steinhoff International Holdings NV logo sits on display outside the company's offices in Stellenbosch. Photographer: Waldo Swiegers/Bloomberg

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