More rental deals give battling Edcon breathing room
Retailer struggles to save 40,000 direct jobs because of bad strategic decisions and competition
SA’s largest non-food retailer, Edcon, which is battling to save 40,000 direct jobs because of bad strategic decisions and mounting competition from newer retailers, has now managed to sign a rental savings deal with a fifth of its landlords. The saving on rent had given the company two years of breathing room as it restructured to become profitable and more relevant, having lost about 30% of its market share over a decade, CEO Grant Pattison said on Thursday. If you are already a subscriber, please click on the following link to go to the full article: Rental deal gives Edcon critical breathing room If you would like to subscribe to BusinessLIVE to read the full story, please click here.
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