Pepkor impairs R4.76bn of goodwill and intangible value
Blame pinned on poor economy, an expected increase in unpaid consumer accounts and a decline in sales
06 November 2020 - 18:08
UPDATED 08 November 2020 - 20:53
Pepkor — owner of Ackermans, Russells and Incredible Connection — is impairing 8% of the business’s R59.2bn goodwill and intangible value due to a poor economy, an expected increase in unpaid consumer accounts and a decline in sales.
The retailer’s R4.76bn impairment reflects that it does not think its stores will generate as much income as previously projected...
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