Steinhoff’s Window-Dressing Reveals the Devil Is in the Details
- Company uses fine print to communicate clearly to stakeholders
- Embattled retailer is finalizing debt-restructuring talks
Pedestrians pass the front of a Steinhoff International Holdings NV store.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
It’s quite understandable that Steinhoff International Holdings NV wants to create a favorable impression. The embattled retailer is in the final month of debt-restructuring talks, after all.
In its results presentation last week, Steinhoff proclaimed in standout pink letters on the first page that it operates in “more than 12,000 stores with 40+ brands in 30+ countries.” Zoom in and the small print below reveals this includes discontinued operations.