Steinhoff to meet with PSA

Steinhoff to meet with PSA

The Public Servants Association (PSA) will meet with Steinhoff International Holdings on Friday in a bid to get access to company records.

Steinhoff Offices

The PSA will visit the embattled company at its Stellenbosch offices to ask the global retailer to hand over company documents.


The PSA's Leon Gilbert says Steinhoff's attorneys have agreed to the meeting.


Steinhoff was plunged into a crisis late last year, amid allegations of corruption when its stock dropped by more than 61%.


It has also been estimated that public servants  lost pensions to the value of R12.5bn.


ALSO READ: Steinhoff hearings set for end of January


Gilbert says they will approach the courts to force compliance if Steinhoff refuses to cooperate.


"We expect to receive the relevant documentation. The memorandum of incorporation, registrar of directives, reports to meetings, annual financial statements, and minutes of annual meetings as well as securities register. Once we have those documents, we will study it and decide on appropriate action which in all probability will take some form of legal action."


ALSO READ: More changes to Steinhoff management


Three parliamentary committees, including the committee on Finance, Public Accounts and Administration, will probe Steinhoff's conduct. 


The hearings are set to start at the end of January.

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