Casualties of Covid-19: death stalks SA businesses
The rate at which companies are filing for bankruptcy in SA is rising rapidly. Businesses are battling to stay afloat and matters are being made worse by the fact that the government is not providing time frames, so planning is next to impossible. Those who can afford to keep going are doing so because their balance sheets were strong at the beginning of the crisis and they are trying to conserve cash as much as possible
It’s not often you see Brian Joffe emotional at a results presentation — let alone sporting stubble. But one of the country’s most prolific and ruthless dealmakers seemed somewhat shaken at the start of his presentation of results for lifestyle investment company Long4Life last week.
Joffe has experienced many daunting challenges in his 50-year career — but nothing, he said, comes close to the fallout from the Covid-19 outbreak. This will forever be known as the period in which we changed paradigms, ways of working and the way in which we relate and interact with one another...