there is a Steinhoff group here. basically what they are saying is that the value of the assets are far higher than the debts. it does not look to me that they are going down with a massive fight
@123456christian well if there is a subreddit with the name Steinhoff is it really german? the share still sell to today in south africa and in many other countries. i see mention of the USA . i totally agree with them. seems there is groups that want to drive the whoa plan despite the fact that there is more than enough for the creditors. think a lot of players in south africa was also bamboozled when they sold their companies in exchange for shares in steinhoff. rather than take it on the chin i wonder how many of them are now creditors and ofc they know their shares in the new company wont be much more worth than it is currently so cut out the small man and then get a more exclusive deal in the new company. ofc they now play a double role voting down the credit restructuring plan as shareholders . i made a few bucks on steinhoff so dont really have a horse anymore in that race but there is a lot of unit trusts still invested in them. if you think about it if they have 3 million in shares now how much was it worth at its peak. 150 million
@onkos1 If the business has more debt than value. The creditors are first in line for that value. I've not read of any valuation that says the opposite, that there are more assets than debt
Finance Ghost has been commenting on the Steinhoff matter for years now, court cases and the plans. It's been a long time coming.
@vancouverguy there is a german that says otherwise. look in the article i link to for the link the auto captions is in english . think they have a lot of problems with the creditors . tbh i think i have read that especially in the usa steinhoff had some of the worst leases on the planet. tbh this business as usual stuff on the jse is a bit weird to me. i would say one should at one point said . trade is now stopped on the old company your buying stock in the new company. but i think a lot of people still has steinhoff stock.
@onkos1 I think a lot of people bought Steinhoff stock to try catch a falling knife. And a lot of people now want other to buy it so they can sell without making a loss.
Steinhoff's internal audit list more losses in the last financial year than they have assets. A few leases in the US are not going to change that. I don't see the other valuation mentioned in the post or the video so we cannot compare them.
@vancouverguy i dont get it why are they still making losses. wasnt the brands they had in their stable quite popular. i mean like tekkie town. not certain pep stores. but i dont think in germany and europe people would have invested in them if they had just bought crap. anyway yes you are probably more informed than me about them.
