Post Office applies for business rescue in effort to save ‘essential service’
Provisional liquidator argues in court against final liquidation as it provides an essential service to many citizens
05 June 2023 - 05:00
The SA Post Office, which was put in provisional liquidation in February, is applying to the courts to be placed in business rescue, enabling it to avoid further lawsuits by unpaid creditors and perhaps escape liquidation.
Being placed in business rescue lets a company pause debt repayments while experts restructure it and negotiate with creditors to avoid going out of business permanently...
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