Edcon business rescue on track, even as 17,300 job cuts start
A plan to sell Jet and Edgars together did not garner sufficient interest and if one brand is sold, the other’s stores will be closed
Embattled retailer Edcon, which has issued retrenchment notices to its almost 17,300 employees, said on Wednesday that its business rescue process is going as planned.
The clothing retailer filed for business rescue in April after it was unable to pay suppliers following weak sales from January, which were worsened by the Covid-19 lockdown. ..