TFG gets tribunal approval to acquire Jet stores
The go-ahead is subject to the clothing retailer not retrenching any Jet employees in the acquired stores in the next two years and prioritising former Edcon workers when hiring new staff
The purchase of Jet stores by TFG has been given the go-ahead by the Competition Tribunal on Wednesday, with instructions that it cannot retrench any Jet employees in purchased stores for the next two years.
TFG, the owner of Foschini and other brands including Duesouth and Sportscene announced in July it had made a R480m bid for commerciallyviable Jet stores including stock worth R800m. ..