South African lockdown torpedoes Edcon’s restructuring efforts
The South African retailer, the leading clothing chain in southern Africa, is experiencing a sharp drop in sales and has insufficient cash to continue operating.
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▪ South African lockdown torpedoes Edcon’s restructuring efforts
▪ The South African retailer, the leading clothing chain in southern Africa, is experiencing a sharp drop in sales and has insufficient cash to continue operating.
▪ https://www.africabusinessplus.com/en/804148/le-confinement-en-afrique-du-sud-torpille-les-efforts-de-restructuration-dedcon/
After a 45% drop in turnover in March, the company, which manages more than 1,000 stores and is struggling to overcome its financial difficulties, has sounded the alarm and announced that it will not be able to honour its financial commitments.
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