Poundland’s parent group Steinhoff International has started to lose credit lines from lenders, putting more pressure on the South African retailer’s shares as it grapples with an accounting scandal. It emerged on Friday that Poundland faces potential difficulties with suppliers after an insurance company reduced its cover on credit for those selling goods to the cut-price chain. PricewaterhouseCoopers has been investigating the accounting irregularities, linked to Steinhoff’s assets outside South Africa. He said the group planned to launch its Dealz chain, which currently operates in Ireland and Spain, in Poland in February. • Follow Guardian Business on Twitter at @BusinessDesk, or sign up to the daily Business Today email here.

Source: The Guardian December 19, 2017 19:03 UTC