RETAILERS
Edgars’ small creditors make last-ditch effort to improve their payout
Ten former Edgars suppliers go to court for details of retailer’s implosion
23 August 2021 - 05:10
Ten former Edgars suppliers are applying to the high court in Pretoria for permission to litigate against Edcon, which is in business rescue, to improve their low payout and get more clarity about why the clothing retailer almost collapsed.
Edcon, the former owner of Jet, Edgars and CNA, went into business rescue in 2020 after several attempts to restructure the company, which never recovered after Bain Capital borrowed R25bn in foreign debt to delist it in 2007...
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