Boxer must pick Pick n Pay up off the canvas
Not long ago it was a small chain of rural stores, now it could become retail’s new darling on the JSE
28 November 2024 - 05:00
Newly listed retailer Boxer needs to keep punching above its weight to keep parent company Pick n Pay off the ropes.
Pick n Pay has needed a capital infusion of R14bn, from a recent rights issue and Boxer’s successful IPO, to pick itself up off the canvas. The reinforced balance sheet will hopefully be able to sustain a rapid recovery after the group incurred losses and shed market share at its eponymous supermarket business...
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