Much needed going concerns for the little guys

Steinhoff’s delayed 2018 results were released this week with the standout figure a net loss of 1.2bn euros.

But as mentioned in a Daily Maverick editorial, the figure was not what ‘really’ jumped out.

This statement ‘‘(The) facts … cast significant doubt upon the company and group’s ability to continue as a going concern beyond the foreseeable future’.

It casts uncertainties over the future of the company, and more worrying doubt over the 120,000 people involved at Steinhoff.

Once again showing that it’s the little guys that feel the brunt of the ‘big guys error-strewn ways’. Tongaat employs 31,000 people…