Steinhoff International Holdings has revealed that its accounting errors stretch back into 2016, highlighting the extent of wrongdoing at the clothing and furniture retailer that's led to an unprecedented stock slump over the last week. Earnings for this year and last will have to be restated, the retail giant said in a statement late on Wednesday, prompting the shares to slide anew. The issues relate to the viability of assets on the balance sheet of operations in Europe, it said. Steinhoff has expanded aggressively outside Africa in the past three years, adding the UK's Poundland to European brands such as France's Conforama. "Steinhoff has not done any major European acquisitions in the 2017 fiscal year so any asset adjustment would almost certainly have had to apply to 2016 as well," Charles Allen, an analyst at Bloomberg Intelligence, said in e-mailed comments.