A bad week for Food Lover’s Market CEO Brian Coppin
It’s the stuff of retail nightmares — a video goes viral of rats crawling over your supposedly ‘fresh salads’ in your store
It’s not often that shareholder activism pays in SA, so when it does, it’s worth an honourable mention. In recent weeks, activist Theo Botha has questioned how it was that Purple Group, a company worth R280m, was going to pay R2.8m to its nonexecutive chairman Mark Barnes.
Facing Botha at Purple’s AGM this week, the company said the fee was "incorrectly disclosed" and was actually R500,000. Also, 7.4% of Purple investors voted against paying Barnes an extra R2m for raising R100m for Purple’s EasyEquities arm.
It’s the stuff of retail nightmares — a video goes viral of rats crawling over your supposedly "fresh salads" in your store. But that’s what Food Lover’s Market CEO Brian Coppin has had to deal with since the footage from its Diepkloof store emerged this week.
As public fury grew, Coppin said the store would be "temporarily closed" for a week to allow for a "deep clean". It’s a nasty incident for a company with 128 stores in 11 countries, even if the local rodent life seem to agree with its tagline, "The Best in Fresh".