Steinhoff Pleas for Investor Support to Save ‘Burning Building’
- PwC progressing with probe into embattled retailer’s accounts
- Chairman Sonn pledges to bring those responsible to justice
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Steinhoff International Holdings NV’s chairwoman likened the embattled retailer to a burning building when the accounting scandal broke four months ago, appealing for shareholder support for an ongoing investigation into the smoldering wreckage.
The owner of Conforama in France and Mattress Firm in the U.S. said an investigation by auditors at PwC is well underway and has already uncovered the inflation of income and asset values over several years. More than 320,000 documents have been studied and 4.4 million records gathered in an attempt to find out what happened and who’s responsible, Steinhoff said. The probe is expected to be completed by the end of the year.