Competition Tribunal approves sale of parts of Edgars, saving 5,200 jobs

Edcon media statement: 

Edcon is pleased to announce that the Competition Tribunal has approved the sale of parts of Edgars to Retailability (Pty) Ltd, subject to certain employment-related conditions. Retailability, a fashion retailer and a holding company of store brands including Legit, Beaver Canoe, and Style, operates in over 460 stores across South Africa, Namibia, Botswana, Lesotho, and eSwatini. Through this sale, Retailability plans to utilise Edgars’ unique value proposition and large attractive target market, to ensure the growth and continuity of a proudly South African Edgars brand.

Read also: Jobs could be saved as Edcon closes deal to sell parts of Edgars

The approval by the Competition Tribunal confirms the successful progress of the business rescue plan, which includes the sale of up to 131 Edgars stores and the saving of approximately 5,200 jobs in the Edgars Business. The parties will now work on closing various conditions precedents and on finalising the transaction for the rest of Africa.

Read also: Mailbox: ‘Please, let Edgars be saved’ – it’s part of who we are

GoHighLevel
gohighlevel gohighlevel login gohighlevel pricing gohighlevel crm gohighlevel api gohighlevel support gohighlevel review gohighlevel logo what is gohighlevel gohighlevel affiliate gohighlevel integrations gohighlevel features gohighlevel app gohighlevel reviews gohighlevel training gohighlevel snapshots gohighlevel zapier app gohighlevel gohighlevel alternatives Agency Arcade, About Us - Agency Arcade, Contact Us - Agency Arcade, Our Services - Agency Arcade gohighlevel pricegohighlevel pricing guidegohighlevel api gohighlevel officialgohighlevel plansgohighlevel Funnelsgohighlevel Free Trialgohighlevel SAASgohighlevel Websitesgohighlevel Experts