Your Favourite Discount Store Could Be In Real Trouble
Another legend is in the doghouse and it's the news nobody needed to hear...
Even though Dealz has arguably the cheapest bits and busiest store on the high street - and their own sex toy range to boot - the company is facing uncertainty after shares in the company plummeted.
The main owner of Dealz (Poundland in the UK) Steinhoff International, a company who predominantly own furniture stores, have lost over 60% of their value after its chief executive quit amid allegations of accounting irregularities.
The South Africa company was unable to release its financial results as planned as auditors from PwC were examing its accounting practices.
Although the company is querying "accounting irregularities" Steinhoff stressed that it still had profitable businesses in its portfolio and urged investors to "exercise caution" when trading its shares in the wake of the disclosures.
The company was already facing a tax probe in Germany.
Ah, lads. Where are we going to buy multipacks of everything if Dealz goes under?
