DA wants business rescue for Denel — without state meddling
Divisions of the state arms manufacturer are struggling to pay full salaries for April
Trade union Solidarity says multiple divisions of Denel are too cash-strapped to pay staff their April salaries, prompting the DA to call for the state arms manufacturer to be placed in business rescue before it collapses.
DA spokesperson on defence Michéle Clarke said the party wants a business rescue process free from undue influence by public enterprises minister Pravin Gordhan to avoid a flawed process such as the one playing out at SAA. Business rescue is a form of bankruptcy protection where administrators take over the company and work out whether it can be saved...