At least three companies, owed millions by Arthur Kaplan and NWJ jewellers, have separately applied to the high court in Johannesburg for the liquidation of holding company Luxe Holdings, with one describing it as “hopeless at paying debts”.

A liquidation would place an independent practitioner in charge of the company. He or she would take over the reins from current directors and decide how to dispose of Luxe’s assets and divide up the proceeds among creditors...

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