The end of Steinhoff: From a small town in Germany to SA’s biggest corporate fraud | Business

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Markus Jooste was the driving force behind the company's international expansions

Markus Jooste was the driving force behind the company’s international expansions

In 1964, West German businessman Bruno Steinhoff started a small furniture company in the northern German town of Westerede. 

Germany has a long history of Mittelstand companies – small, usually family-owned enterprises that form the backbone of its economy. 

The company, Steinhoff, forged links with upholstery and furniture producers in what was then East Germany, importing goods on the cheap and selling them to better-off West Germans. 

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