Steinhoff Holding seeks creditor protection in the Netherlands
According to a report in the Austrian newspaper Die Presse, the crisis-ridden Steinhoff Group (including Conforma; formerly Poco, Kika/Leiner) would like to settle the dispute with its creditors over a Dutch protective shield procedure for its Dutch holding company. This could give the company time to reach an agreement with its creditors and thus prevent insolvency proceedings. At the end of 2017, the group plunged into a deep crisis after it became known that an amount in the billions was missing from its balance sheet. In October 2020, Steinhoff submitted a settlement proposal, which was not accepted by all creditors.
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