Swift action by boards could avoid Edcon pain
Indicators of potential distress to watch for that should trigger proactive action and seeking assistance
The placing into business rescue of Edcon, one of Southern Africa’s largest nonfood retailers, which has operated for 90 years, has consequences for retail in SA as well as for stakeholders, including thousands of employees, creditors and shareholders. The outcome of this process will not be known for some time.
There are important insights in this development for all businesses facing a future fraught with uncertainty and challenges in the wake of Covid-19. Businesses that act swiftly may endure...