Steinhoff International controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2017
Steinhoff accounting scandal
Accounting irregularities disclosed in December 2017 led to the resignation of chief executive Markus Jooste, a collapse in the share price, investigations by authorities in several jurisdictions, creditor actions, and extensive investor litigation. A PwC investigation summary published in 2019 described fictitious or irregular transactions between 2009 and 2017 that inflated group income and asset values by more than €6.5 billion.
2015
German investigation and Poco ownership dispute
German authorities investigated Steinhoff’s accounting and tax disclosures after raids on company offices. Separately, investor Andreas Seifert disputed Steinhoff’s ownership treatment of furniture chain Poco. The parties reached a settlement in 2018 under which Seifert acquired a 50 percent interest based on an agreed equity valuation.