After a two hour meeting on Monday, management told workers that the factory would be closed until further notice.
Consumers who had gathered outside the factory’s shop on the outskirts of the CBD, to return affected products, expressed concern that they would not be refunded after they found a notice stating the premises would stay closed.
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The collapse of Steinhoff International’s share price this week, following allegations of accounting fraud, is being described as the biggest corporate failure on the JSE so far, but it may just be the tip of the iceberg. On Thursday afternoon, Finance Minister Malusi Gigaba said he supported a decision by the Financial Services Board (FSB)..
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