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Steinhoff told it faces $3.4 bln worth of settlement claims

The foundation set up to administer the distribution of funds to claimants told Steinhoff it has received more than 43,000 claims, the company said in a statement. File photo.
The foundation set up to administer the distribution of funds to claimants told Steinhoff it has received more than 43,000 claims, the company said in a statement. File photo.
Image: Supplied

Retailer Steinhoff has been informed it faces about €3.2bn (about R53.6bn) worth of claims in its settlement with shareholders who lost money when its stock plunged after the revealing of an accounting fraud in 2017, it said on Friday.

The foundation set up to administer the distribution of funds to claimants told Steinhoff it has received more than 43,000 claims, the company said in a statement.


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