Accounting Blowup at Steinhoff Was Hiding in Plain Sight

Steinhoff had lumps in its mattress long before the 63{c97747fc6669eeabccae72a612b98144a9761deaf7841779826c1625931c3d62} plunge in its stock price Wednesday. Lest they suffer another sleepless night, investors should stay up late studying the string of warning signs that preceded an admission of “accounting irregularities” by one of the world’s largest furniture retailers.