Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter It’s not often that we get to see the details of how companies commit $7.4 billion worth of fraud. Steinhoff International Holdings, a former empire of retailers and other companies in Europe, Africa, Australasia, and the …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter “Shadow margin” is a hot business for brokers. Now they’re licking their wounds. When the bankers of Christo Wiese, the former chairman and largest shareholder of Steinhoff International Holdings – a global retail empire that includes …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter $21 billion of debt. Off-balance-sheet entities. Moody’s wakes up, downgrades it four notches, with more to come. Steinhoff International Holdings – which acquired nine companies in the past two years, including Mattress Firm Holding in the …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter “Accounting irregularities” If you’re holding shares or bonds of a company, such as Steinhoff International Holdings — which acquired Mattress Firm Holding in 2016, Sherwood Bedding in 2017, and a bunch of other companies — well, …