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The collapse of retailer Steinhoff has been South Africa’s biggest corporate crash to date. It’s also been one of the most scandalous involving claims of fraud, racehorses and a mistress.
On the 5th of December last year the group was worth R193 billion.
Just 24 hours later 60 percent of that value had been wiped out.
Now the company is hardly a shadow of its former self.
Well, a new book looks at how the Steinhoff Empire which took 50 years to build, crumbled overnight. The Afrikaans version – Steinhoff en die Stellenbosse Boys – is already available and was the number 1 book in South Africa this week for all titles. It’s being sold as a gripping financial thriller, an astounding tale of power and greed, of secrets and deceit. The English Version – Steinhoff: Inside SAs biggest corporate crash – comes out towards the end of the month.
To discuss we’re joined by the author, James-Brent Styan.
For more news, visit: sabcnews.com
Categorised in: News Headlines
This post was written by CTLive