JOHANNESBURG – Steinhoff International said yesterday that it had appointed Richard Heis as chief restructuring officer for the group as the troubled South African retailer wrestled with the fallout from an accounting scandal.
Steinhoff, whose more than 40 brands include Britains Poundland, revealed accounting irregularities in December, causing an 85% fall in its share price that wiped more than $10 billion (R117bn) off its market value and a raft of changes in its boardroom and leadership.
It has since been scrambling to sell assets and find short-term funds to avoid parts of its business pulling down the sprawling empire which became one of the worlds largest household goods retailers.
Heis was previously global head of restructuring …
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