Accounting Scandal

Steinhoff Urged To Halt 'Unseemly' Director Bonuses

Steinhoff International, which wants to pay its directors bonuses because of the extra work they’ve had to do since an accounting scandal erupted, ha...

Steinhoff Says Directors Due Extra Pay For Working Harder

Steinhoff International Holdings, the retailer that’s wiped out more than $12 billion of value since an accounting scandal exploded in December, plan...

Steinhoff Says PwC Reviewing Off-Balance Sheet Transactions

Steinhoff International said a review by auditors at PwC into its accounts is focused on certain off-balance-sheet structures and deals with related partie...

Steinhoff Appoints Ex-KPMG Partner As Chief Restructuring Officer

Embattled retail group Steinhoff has announced the appointment of Richard Heis as its new chief restructuring officer, as part of plans to return the busin...

UK Fraud Trial Of Ex-Tesco Executives Ended After Heart Attack

The fraud trial of three former Tesco executives was halted when one of them, ex-UK Chief Financial Officer Carl Rogberg, had a heart attack days before th...

Steinhoff Says Immediate Liquidity Needs 'Largely Addressed'

Steinhoff International said it has secured enough money to keep its businesses running in the immediate term and can now start talks with a broader group...

Steinhoff Finds $1.1 Billion Under the Mattress. Is It Enough?

Steinhoff International’s quest for cash has yielded about $1.1 billion from asset sales as the embattled retailer struggles to stay afloat. The...

Tesco Jury Prepares For Verdict As Accounting Trial Nears End

The four-month trial of three former Tesco UK executives accused of fraud and false accounting over a £250 million profit black hole at the grocer is...