Poundland owner in crisis after revealing ‘accounting irregularities’
Poundland's owner Steinhoff was hit by a triple whammy as its shares crashed by 63% after its long-serving chief executive resigned as it revealed accounting irregularities.
Steinhoff is a retail group with 40 brand in more than 30 countries. Its UK brands include Bensons for Beds and Harveys, while last year it bought Poundland for £610m after a protracted takeover.
But the South African group was already under pressure, with German tax authorities having been investigating its operations for two years.
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