Landlords have been preparing for loss of Edcon tenancy
Most have a small stake in the company and have not depended too heavily on that stream of income
29 April 2020 - 19:25
SA’s largest landlords have spent more than a year reducing their exposure to national retailer Edcon in case the struggling group had to close shop despite a rescue package from the Public Investment Corporation (PIC) in 2019.
Edcon said on Wednesday it had entered voluntary business rescue because its financial position had soured since the government put SA’s economy into lockdown in late March...
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