But what is clear in retrospect isthat Steinhoff was trying to cover the holes in its...
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But what is clear in retrospect is
that Steinhoff was trying to cover the holes in its income
statement and its profit numbers by doing all these crazy deals,
and create the perception that it wasn't quite as frail as
it was and to justify the narrative that Markus was putting out there,
of the company growing and expanding, which wasn't happening in
a real operational sense
that Steinhoff was trying to cover the holes in its income
statement and its profit numbers by doing all these crazy deals,
and create the perception that it wasn't quite as frail as
it was and to justify the narrative that Markus was putting out there,
of the company growing and expanding, which wasn't happening in
a real operational sense
Full Transcript
00:00:01.000 --> 00:00:04.036
But what is clear in retrospect is
that Steinhoff was trying to cover
00:00:04.361 --> 00:00:07.319
the holes in its income
statement and its profit numbers
00:00:07.032 --> 00:00:10.088
by doing all these crazy deals,
and create the perception
00:00:10.881 --> 00:00:14.759
that it wasn't quite as frail as
it was and to justify the narrative
00:00:14.076 --> 00:00:18.012
that Markus was putting out there,
of the company growing and expanding,
00:00:18.121 --> 00:00:20.998
which wasn't happening in
a real operational sense.
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Movie Summary
The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
