The travails of food wholesaler Spar illustrate that no matter how quickly you think you’ve nipped a problem in the bud, chances are the rot goes way deeper.

Seven months ago, Spar waved goodbye to CEO Brett Botten and long-standing chair Graham O’Connor amid a raft of allegations of self-dealing and shoddy governance, including fictitious loans ostensibly made to franchisees years ago worth R11m. ..

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