The operator of clothing chains including Pep and Ackermans is also embroiled in a court battle against former executives of shoe retailer Tekkie Town, which Steinhoff bought in 2016. Market reaction Pepkor shares have slumped 25 percent since Steinhoff's announcement almost a year ago that it had uncovered accounting irregularities and its CEO had resigned. Get more Pepkor said it's working "intensively to improve its disclosure where necessary and appropriate." The extent that Steinhoff-related issues distracts management from running the business should not be underestimated, said Syd Vianello, an independent retail analyst in Johannesburg.