Pick n Pay seeks liquidation of franchisee’s stores
The 19 outlets are unprofitable, collectively racking up more than R155m in losses last year
28 February 2024 - 21:32
Pick n Pay has applied to liquidate 19 stores that belonged to a franchisee after debt owed to it grew to R224m, in its first ever move of this nature.
An application for liquidation can be used by a creditor, in this case Pick n Pay, to attempt to enforce the repayment of debt, with the liquidation not becoming final if payment is made...
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