Steinhoff sells Blue Group and Harvey’s furniture
DURBAN – Embattled retailer Steinhoff International has sold Blue Group, owner of Bensons for Beds and Harveys Furniture, to Alteri Investors for an undisclosed amount.
Alteri Investors is set to acquire Bensons for Beds, Harveys Furniture and associated group of manufacturing companies.
Steinhoff has been grappling to pay down the debt caused by the December 2017 accounting scandal, worth an estimated $7billion (R103bn), which led to a more than 95percent decline in its share price.
Source: iol.co.za
