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A German court issued an arrest warrant for Markus Jooste, former chief executive officer of scandal-ridden retailer Steinhoff International Holdings NV, after he failed to show up for trial in the country.
Jooste claimed he encountered several challenges related to his passport due to an agreement with South African authorities, which restricted his ability to travel.
Steinhoff has run out of room to manoeuvre. The troubled retailer will be delisted from the JSE and the Frankfurt Stock Exchange, and ownership will move from shareholders to creditors, which are mostly hedge funds.
A German court issued an arrest warrant for Markus Jooste, former chief executive officer of scandal-ridden retailer Steinhoff, after he failed to show up for trial in the country.