Edcon enters business rescue
The embattled retailer says that the Covid-19 lockdown resulted in R2bn in lost sales
29 April 2020 - 11:22
Edcon has started with voluntary business rescue proceedings after losing R2bn in turnover during SA’s lockdown, it said in letter to suppliers on Wednesday.
The group said it is unable to meet its financial obligations, and is also expecting “muted demand” once SA’s lockdown ends...
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