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JOHANNESBURG (Reuters) – South African troubled retailer, Steinhoff (SNHJ.J) announced Friday a loss related to continuing operations of an amount of 356 million euros (401 million USD), as it continues to suffer the effects of an accounting fraud estimated at more than 7 billion USD.
Steinhoff first reported deficiencies in his accounts in December 2017, shocking investors who had supported his transformation from a small South African company into a discount furniture retailer straddling four continents.
(1 USD = 0.8885 euros)
Reporting by Nqobile Dludla; Edited by Mark Potter
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