Ellies bags loan for alternative energy products to plug satellite losses
Company wants to have enough stock on hand to meet demand caused by load-shedding
27 September 2022 - 18:59
Ellies has signed a deal with lenders to fund an expansion into alternative energy products as it works to reduce its reliance on satellite business, the decline of which is behind job cuts and losses announced this week.
Ellies, which imports, makes and sells electronic equipment such as aerials and power trolleys, has struggled to maintain profitability in recent years as consumers cancel their cable and satellite television subscriptions and shift to online video streaming. ..
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