EDITORIAL: CNA doesn’t seem like an attractive proposition
Spooked suppliers, empty stores, squabbling management and smarter competition are all stacked against the old firm
When investment house Astoria took a 70% stake in CNA, director Jan van Niekerk argued the more than 100-year-old stationery store was worth saving and it had survived the Great Depression and two world wars.
Of course, like most people, he didn’t know that a Covid-19 outbreak and the worst economic crisis in a century was around the corner. The question now is whether the floundering stationer, which is also being caught up in a power battle among executives, will survive its latest test...
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