Group Five shareholders ‘unlikely’ to get anything back
At the end of February, Group Five’s liabilities exceeded its assets by R1.3bn
20 June 2019 - 14:28
Group Five shareholders are unlikely to get anything out of the contractor’s business rescue process, the group, once a titan of SA’s construction sector, said in a presentation posted on its website on Thursday.
In March, Group Five announced it had gone into business rescue — a process aimed at rehabilitating financially distressed companies — because it could not get additional funding from lenders...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.