JOHANNESBURG CBD
Edcon could close flagship Edgars store
Edcon is considering closing its flagship Edgars store in the Johannesburg central business district (CBD) as part of a turnaround strategy to rescue the ailing retailer. At a recent gathering in Johannesburg, Edcon CEO Grant Pattison, who was brought in to revive the group after a decade of sluggish performance, said part of the idea was to have Edgars located in regional malls where it could take advantage of the traffic density. Edcon first alluded to the downsizing of space in a recent quarterly statement and has already closed more than 200 stores, including those sold in the Legit transaction. Pattison said the company was determining whether it was still viable to offer the Edgars brand to CBD commuters. "We are probably going to end up with one store in the CBD and it’s likely to be Jet," Pattison said. The Johannesburg CBD is home to three Edcon stores: an Edgars department store, a Jet store and a Jet Mart. The 89-year-old retailer opened its first Edgars store in Joubert ...
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