Steinhoff International Holdings relocated two units at the heart of its accounting scandal to the UK as the retailer embarks on a new phase of recovery after reorganising debt.
Steinhoff Europe and Steinhoff Finance Holdings will move from Austria to Cheltenham, England where the companys UK business is based. The supervisory boards of both units have been redrawn, with Steinhoff CFO Philip Dieperink and commercial director Louis du Preez holding positions at the Europe division. Joining them is Richard Heis, a corporate restructuring specialist previously at KPMG hired by Steinhoff in February.
The trio are part of the new leadership team charged with rescuing the owner of Poundland in t…
Read the full article at: https://www.businesslive.co.za/bd/companies/retail-and-consumer/2018-08-06-two-steinhoff-units-at-the-heart-of-its-accounting-scandal-relocate-to-britain/