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
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...