Steinhoff said significant progress has been achieved, and that it was to shortly launch a company voluntary arrangement in relation to Steinhoff Europe and a consent solicitation process in respect of Steinhoff Finance Holding issued convertible bonds. "The company's efforts since December 2017 have been largely focused on stabilising the group, while engaging in an extremely complex and extensive restructuring process," the group said. Du Preez, who is presently commercial director, joined the Steinhoff group last year.