The numbers are staggering.
Steinhoff has relieved shareholders of R187 billion worth of value since Friday afternoon (December 1 – see graph). The biggest shareholder, of course, is executive chairman, Christo Wiese.
What happens next is anyone’s guess. The carnage has also spread to subsidiary Steinhoff Africa Retail, where CEO Ben la Grange, once the CFO of Steinhoff International Holdings, has resigned with immediate effect.