Consumer goods & Retail
South African lockdown torpedoes Edcon’s restructuring efforts

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.

http://www.jeuneafriquebusinessplus.com/en/804148/le-confinement-en-afrique-du-sud-torpille-les-efforts-de-restructuration-dedcon/

23/04/2020 at 19h39, by Jeune Afrique Business+

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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