EDITORIAL: Politicians need to learn right lessons from Edcon demise
With Covid-19 set to ground more businesses, regulations should aim to promote as much activity as possible
29 April 2020 - 19:18
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. ..
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