Its European operation expanded previous year to include United Kingdom discount retailer Poundland.
Shares in Poundland's parent firm Steinhoff International have lost nearly 60% of their value after its chief executive quit amid allegations of accounting irregularities.
Steinhoff has delayed the publication of its 2017 financial results indefinitely as it investigates what it terms "accounting irregularities".
This came after Steinhoff International CEO Marcus Jooste announced his resignation on Tuesday night, causing an indefinite delay in the release of Steinhoff Holding's full-year results, which were scheduled for release on Wednesday.
Steinhoff has asked accountancy giant PwC to conduct an independent investigation.
Shares in Steinhoff International fell by about 60 per cent after the news was announced.Читайте также: Zinke Says New Mexico Monuments Won't Shrink
The company said it will be determining whether any of the prior years' financial statements need to be restated.
Mr Jooste had been in charge for close to two decades and oversaw Steinhoff's expansion from a furniture manufacturer in South Africa to one of the biggest global household goods retailers.
"The Supervisory Board of Steinhoff wishes to advise shareholders that new information has come to light today, which relates to accounting irregularities requiring further investigation", the company said in a statement.
Steinhoff moved its primary stock market listing from South Africa to Frankfurt in 2015.
The Steinhoff supervisory board appointed its chairperson Dr Christo Wiese executive chairperson, or delegated supervisory chairperson, on an interim basis.
It is not clear if these are the accounting irregularities Steinhoff is referring to in its latest statement.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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