PIC backs Edcon rescue plan
The PIC, which has R1.2bn invested in Edcon, says the rescue plan approved on Monday by creditors has the best chance of saving jobs
23 June 2020 - 12:22
The Public Investment (PIC) said on Tuesday it supported a proposed rescue plan for ailing retail group Edcon, in which it invested R1.2bn.
The proposed plan seeks to support job and creditor sustainability and a higher recovery dividend for the Unemployment Insurance Fund (UIF), compared to a liquidation process, the PIC said in a statement...
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