The giant South African group, Steinhoff International, will be selling one of its assets among them a jet, as it fights to keep afloat after being hit in an accounting scandal.
According to a source, the luxurious aircraft which comes at a hefty price tag of about $25m is rumoured to be soon eyed by The owner of UK discounter Poundland and bedding supplier Mattress Firm in the US. The 2006 Gulfstream G550 private jet that has shuttled executives all around the world.
The source says the plane was put up for sale after the company announced on December 5 that it had uncovered accounting irregularities.
The disclosure resulted in the rapid drop in the share price of Frankfurt-and Johannesburg-listed Steinhoff, and also led to the resignation of the company’s CEO Markus Jooste and chairman Christo Wiese.
Last week the company that it was seeking "significant near-term liquidity" for some of its business units.
The plane, certified for 16 passengers, left Frankfurt on December 3 to fly to SA and was last tracked in Cape Town on December 7, according to online flight logs.
Steinhoff confirmed the plans to sell the jet, but declined to comment further, saying all of its corporate information was being communicated via the JSE’s Stock Exchange News Service (Sens).
Other than the loss of billions of Rands worth of stock, the scandal took a dig to the wealth and lifestyle of some of its principals.