Pick n Pay expects full-year headline loss
Earnings have been affected by a R2.8bn noncash asset impairment of Pick n Pay Supermarkets stores
22 May 2024 - 08:57
UPDATED 22 May 2024 - 16:40
The money expected to be raised in Boxer’s unbundling from Pick n Pay is set to go a long way in settling the group’s R6.1bn debt pile, which is now all guaranteed by Boxer. That followed the inking of a restructuring agreement with lenders, giving the group liquidity to stay afloat until September 2025.
The struggling retail giant is undergoing a strategic turnaround to lift its supermarket business out of the doldrums...
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