Edcon is worth saving, say business rescuers
Retailer was forced to shut its stores after government suspended all nonessential shopping
Edcon, SA’s biggest corporate causality of Covid-19-induced rolling economic calamity, may still be saved.
Like other retailers, Edcon was forced to shut its stores after the government suspended all non-essential shopping. But with a weak balance sheet, it felt the most pain, forcing it to file for business rescue two weeks ago and triggering talk that the legal process to reorganise the company was a non-starter.