Coming just more than a month since CEO Grant Pattison told suppliers that Edcon couldn’t meet its obligations to them, the retailer’s slide into business rescue is no big surprise.

And unfortunately it won’t be the last in an economy suffering from a Covid-19-induced slump that is likely to be worse than anything indicated by the official forecasts. Reserve Bank and private-sector forecasts point to an economy that is set for yet more pain, with some economists putting job losses at more than 1-million. ..

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.