It’s quite understandable that Steinhoff International Holdings NV wants to create a favorable impression. The embattled retailer is in the final month of debt-restructuring talks, after all.
In its results presentation last week, Steinhoff proclaimed in standout pink letters on the first page that it operates in “more than 12,000 stores with 40+ brands in 30+ countries.” Zoom in and the small print below reveals this includes discontinued operations.
It comes after revelations of accounting irregularities that have wiped out more than 95% of its share price. The scandal has made the company and its auditors particularly careful, with disclaimers ...
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