Edcon, with R2bn in sales lost, files for business rescue
It’s the end of an era as what was once SA’s largest clothing retailer files for business rescue
29 April 2020 - 10:30
Edcon, until recently SA’s largest clothing retailer, is filing for business rescue to allow it to continue trading.
Typically, putting a company into business rescue allows it to continue trading while its affairs are restructed to avoid liquidation. A moratorium is placed on payments to creditors, giving the company breathing space while a rescue plan is worked out...
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