- The amount lawsuits against Steinhoff reflects a company “heading towards liquidation, says prominent stock broker Petri Redelinghuys.
- In a note to shareholders, Steinhoff says it it is facing at least four lawsuits totalling over R60 billion.
- Redelinghuys says shareholders sue to ensure that jump the line of debtors a company has to pay.
Steinhoffs latest note to shareholders reflects a company heading toward liquidation, Herenya Capital Advisors founder Petri Redelinghuys says.
The list of shareholders suing the company, it is starting to look like they believe the company will be broken up or liquidated, Redelinghuys told Business Insider South Africa.
The vultures are circling in.
