Edcon’s fall sets Jet free
TFG gets its way at last, grabbing Jet for R480m. This will get it into the hard-fought, lucrative value retail market
16 July 2020 - 05:00
On paper, it would seem that Edcon’s business rescuers have given Jet away.
For a mere R480m, The Foschini Group (TFG) secures R800m of stock, and a company that notched up about R6.5bn in annual sales at last count.