Steinhoff's three-step plan refers to the retailer's blueprint to restructure and rebuild its business in the wake of the accounting scandal that broke in late 2017. Steps one and two encompassed making deals with creditors to delay repayments and "managing litigation risk" so that court cases do not force it out of business. Step three of the plan, meanwhile, refers to restructuring the group to reduce debt and high financing costs. The Public Investment Corporation on Tuesday said the approval of the settlement agreement was a "positive step for those invested in Steinhoff".