Benchmark contracts head for weekly gains as recession fears ease
The latest heatwave will probably prolong the UK’s spending surge
Upgrade of outdated tobacco law on the way at last
The premier announced her cabinet after a meeting with the ANC’s deployment committee and its alliance partners
Sales of new iPhone models are likely to drive the company’s growth this year
Credit bureau sees more defaults ahead as central bank increases interest rates
The improved sentiment is a result of increased merchandise export and import volumes and more new vehicles sold, Sacci report says
GDP is expected to shrink for the first time in more than a year
Top swimmers have a rivalry that could develop into one of SA sport’s greatestt
US secretary of state Antony Blinken visits SA, a fire in Cuba damages its main fuel storage facility, Kenyans vote for a new president, protests in Venezuela, and more
Small restaurant franchiser Gold Brands International, which owns the Chesanyama brand, is now so starved of capital that it is mulling the sale of a subsidiary to secure much-needed cash flows.
Belated financial results released on Monday showed the company’s current assets of R18.5m not nearly covering current liabilities of R47m. Gold Brand’s liquidity squeeze is markedly worse than last financial year when current assets totalled R33m compared with current liabilities of R51m.
This has prompted its auditors to again raise a red flag over the company’s “going concern” status, despite Gold Brands managing to markedly cut its bottom line losses to R16m (previously R48.5m) off dramatically reduced store base that gene-rated turnover of R40m (previously more than R140m) in the year to end February.
Consumer appetites have lately dwindled in a competitive fast food and restaurant sector, where even large listed players such as Spur Corporation and Famous Brands have struggled to...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email firstname.lastname@example.org or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.