ROB ROSE: Who dares seize Edgars?
The Edcon group is dead; long live Edgars (and Jet), as clothing and food retailers are in the running to buy these chains out of business rescue
Grant Pattison’s job as CEO of Edcon effectively vanished on Monday afternoon as creditors of SA’s one-time clothing retail colossus voted to approve the business rescue plan. It meant the end of a group formed in 1965, when Sydney Press (who’d started at Edgars as a Christmas casual worker in 1935), bought Sales House and, soon enough, Jet. Critically for the 17,000 permanent staff, this doesn’t spell the end of the retail chains Edgars and Jet, both of which are being courted by a number of possible buyers.
But for Pattison, who joined in 2018 and still has a responsibility to assist the business rescue practitioners, this week’s vote means there’ll be no group for him to lead.