Phumelela cancels JSE listing as it moves to business rescue – statement
‘And at the end of the business rescue process, Phumelela will have no business, no assets and no employees’, says the company.
‘And at the end of the business rescue process, Phumelela will have no business, no assets and no employees’, says the company.
As the pandemic continues to wreak economic havoc, there are a few ways that a struggling small business can do to ensure its survival.
Tito Mboweni has announced that government could sell shares in SAA to the public. He says government pledged support to a restructured SAA.
A business rescue practitioner for SAA says it needs a partner to manage it, making it sustainable without support from government.
Comair, which operates Kulula, was put into a form of bankruptcy protection in May after South Africa banned non-essential travel.
Tongaat Hulett CEO Gavin Hudson joined Alec Hogg to speak about about the business, which just a year ago was on the brink of collapse.
The fate of SAA has become an emotive topic in South Africa as the country struggles to recover from Covid-19 and an economy already in recession.
This leg of the Edcon business rescue plan entails saving approximately 4800 jobs and transferring about 382 stores in South Africa
Alf Lees of the DA says SAA’s Business Rescue Practitioners meeting should have had one item on the agenda: the groundwork to begin the liquidation of SAA.
Edcon has concluded the sale of parts of Edgars to Retailability in what will hopefully be a positive new era for the South African retail giant.