Bloomberg South Africa’s financial regulator fined Steinhoff International Holdings NV a record 53 million rand ($3.6 million) for failing to properly disclose accounting problems and is probing at least 10 individuals in connection with the late-2017 scandal. The Financial Sector Conduct Authority (FSCA) reduced the penalty from an initial 1.5 billion rand in light of the retailer’s precarious financial position, ...

Bloomberg Forever 21 Inc is preparing to close at least 100 stores as part of a restructuring that calls for the trendy retailer to file for bankruptcy as early as this month, according to people with knowledge of the preparations. The apparel merchant is working on obtaining a financial package that would provide about $75 million for its restructuring in ...

Bloomberg J Crew Group Inc plans to spin off its Madewell denim chain in a public offering, the company announced in a filing, five months after announcing it was considering such a move. The number of shares to be offered and the price range for the proposed offering haven’t yet been determined, according to the filing. The amount of the ...