PwC should have flagged significant doubts over the future of BHS in an audit that was completed just days before the loss-making UK retailer was sold for a token one pound in 2015, ahead of its collapse a year later.
A British parliamentary committee has asked billionaire Philip Green to "prove" why he thought retailer BHS could stay in business before it was sold in 2015 for a token one pound, before collapsing a year later.
The bridalwear company, owned by BC Partners, has announced the appointment of four new senior executives to boost its international expansion. It follows the appointment of Amandine Ohayon as CEO in January.
South African retailer Steinhoff , which has been embroiled in an accounting scandal, said its first-half retail revenues rose 1 percent but it still posted a net loss due among others to restructuring costs.
South Africa's retailer Steinhoff said on Thursday that an investigation by auditors PwC has found that the overstatement of its profits may result in additional material impairments, sending its shares plummeting.
Steinhoff remains in a “tough position” and is talking to creditors about restructuring debt, the company said on Friday at its first shareholder meeting since an accounting scandal was uncovered in December.