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
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...