Spur CEO flames SOEs for ruining consumer confidence
Pierre van Tonder says bad news from state-owned enterprises has contributed to lower sales
The head of family restaurant group Spur says the frequent bad news from state-owned enterprises has decimated consumer confidence, resulting in lower sales.
“Stagnant economic growth, rising unemployment, increases in energy, utility and living costs, regular bad news concerning state-owned enterprises and the recent widespread load- shedding have hit the consumer hard, and consumer confidence remains negative. Trading in these circumstances is certainly proving challenging,” said CEO Pierre van Tonder in an update for the six months ended December