Stefanutti sinks deeper into the red and is technically insolvent
The company’s current liabilities exceeded its assets by R1.3bn in the year to end-February
27 May 2021 - 12:11
Loss-making Stefanutti Stocks is now technically insolvent after its liabilities exceeded its assets, leaving its future hanging in the balance.
The future of Stefanutti Stocks, one of the few construction stocks still listed on the JSE, now depends on its restructuring plan that is due to end early in 2022 and includes the fire sale of its noncore assets and retrenchments..
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