Mr Tekkie’s new tack on new track
Former management and staff of the Star retailer say they will open their doors in time for annual Christmas shopping spree
Tekkie Town founder Braam van Huyssteen, who is embroiled in acrimonious litigation with Steinhoff Africa Retail (Star), says he will launch his new retail chain ahead of the Christmas shopping period. The new chain, Mr Tekkie, is preparing to open outlets across the country in late November, a development that will undoubtedly be another distraction for the hierarchy of Star, who have had their hands full with legal claims relating to a bonus scheme and a constructive dismissal case brought by Van Huyssteen. Star’s share price, which had recovered to R21 a share in April, fell into a slump following revelations that the company had issued a guarantee to cover staff loans, as well as the walkout of staff from Tekkie Town in June. Star’s share price closed 0.12% down at R16.52 on Monday. Van Huyssteen believes it is a good time to start afresh. "There are lots of struggling retailers, so we might get an injection by taking over some leases, but regardless, we think we can open 50 to ...
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