South African retailer International Holdings N.V. said on Tuesday a former partner firm of its European operations claims it is owed about 291 million euros (£256.62 million or $331 million) by the company.
Poundland has received a big boost from its major move into the clothing sector and despite the problems at its South African parent company, its fourth quarter (the period to September 30) and full-year were strong.
Steinhoff International Holdings , now expects to publish its group audited financial statements for 2017 and 2018 by mid-April 2019, as an investigation by auditors PwC has been delayed, the retailer said on Thursday.
Steinhoff said on Thursday that the High Court of Justice in England and Wales had granted permission to its subsidiary, Stripes U.S. to convene a meeting with creditors about a proposed restructuring.
Steinhoff's former CEO, Markus Jooste, told a parliamentary inquiry investigating an accounting scandal at the retailer that he was not aware of any accounting irregularities when he left the firm in December.