The Foschini Group’s planned takeover of Edcon-owned Jet stores is a stellar move for the group that also saves an imperative clothing brand in SA’s apparel market which is often too expensive and an economy headed for a deeper recession.

The owner of Foschini, Markham and Donna clothing retailers said on Monday it submitted an offer to the business rescue practitioners of Edcon, whose financial stresses began to be compounded in 2020 by the coronavirus.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now