Brait overhaul could lead to sale of assets such as Virgin Active
Leading shareholder Christo Wiese is seeking to salvage his investment after seeing his other retail assets plunge in value
27 November 2019 - 15:56
Brait, owner of struggling UK apparel chain New Look, launched a sweeping overhaul as leading shareholder Christo Wiese seeks to salvage his investment after seeing his other retail assets plunge in value.
The investment company outlined a refinancing worth almost twice as much as its R7.1bn market value and said the plan could result in a sale of assets, which also include Virgin Active gyms, within three to five years. Its JSE-listed shares fell as much as 14%...
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