Edcon, the 90-year-old retail colossus which last year came within an inch of collapsing into the scrapheap like rival Stuttafords, has been saved — for now, at least.

It’s a verdict that has been out till now but last week, the R2.7bn for Edcon’s "restructuring" landed in its bank account. It was touch and go for a while but it’s fair to say that the rescue deal for SA’s largest clothing retailer can be deemed a success.

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