Steinhoff International Holdings, the global retailer fighting to recover from an accounting scandal, sold its luxury Gulfstream 550 private jet to a US aircraft broker as it seeks to boost liquidity. The luxuriously appointed 2006 Gulfstream has been valued at almost $25-million (about R306-million) and was bought by Steinhoff in April. It is capable of 12-hour nonstop flights and is certified for 16 passengers.A spokeswoman for Steinhoff confirmed the sale. She declined to comment on the price of the deal, citing a confidentiality clause. Steinhoff put the plane up for sale shortly after the owner of Mattress Firm in the US and Poundland in the UK announced last month that it had uncovered accounting irregularities that knocked almost 90% off its share price. The aircraft was advertised for $24.8-million in 2016, and the sale brochure showed the interior fitted out in cream-coloured leather seating, wood panelling and a marble-and-brass bathroom. The transfer of the aircraft comes...
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