Stefanutti Stocks continues to pin hopes on turnaround after Covid-19 hit
The group had been struggling from a downturn in SA infrastructure spending as it is looking to sell assets and resolve legal disputes
26 November 2020 - 15:07
Construction and engineering firm Stefanutti Stocks, which is battling to avoid joining recently delisted peers, is looking to continue cutting jobs and selling off assets after Covid-19 put additional strain on a company already struggling to collect from clients.
The group operates in SA, Sub-Saharan Africa and the UAE, and, like many other construction firms, it has struggled amid a dearth of investment in infrastructure. The group’s liabilities exceed its assets by about R67m from the end of its six months to end-August...
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