Steinhoff stock has fallen since a report by https://viceroyresearch.org/ pointed out a system of off-balance sheet deals and other accounting irregularities. The question is: "Will shareholders lose everything or will the company survive?"
In the Annual Report, the book value seemed to be 3,8 Euros per share, but most of that was Goodwill which will now be written off.
Currently, the share price is 27 cents, it seems that book value should be about twice that?
Update: "Vacant" value of Hemisphere €1,1b lower. Book Value per Share: €0,37 ?