Steinhoff, Stellenbosch. Photo: David Harrison - [email protected]
JOHANNESBURG - Steinhoff Africa Retail  (STAR) said on Sens on Friday  that it had taken note of the  claim lodged by founders  and original shareholders  of Tekkie Town against  Steinhoff International, the  troubled firm reeling from  an accounting scandal. 

STAR  clarified that this claim was  not against STAR and that  STAR was an independently  listed company. 

Tekkie Town,  originally acquired  by Steinhoff International  in 2016, was sold to STAR in  2017 prior to its listing. Tekkie  Town, one of Steinhoff’s  subsidiaries, filed papers in the  Western Cape High Court to  have its R3.2 billion acquisition  by the troubled retailer  reversed. The group had  received a demand from Tekkie  Town amounting to about  €120 million (R1.75 billion).



- BUSINESS REPORT