RCS gets green light to take over Edcon loan book

2020-01-15 17:50

RCS has been given the go-ahead by the Competition Tribunal to acquire Edcon's book debt.

Footgear gets go-ahead to buy Edgars Active

2019-09-19 14:19

The Competition Tribunal has approved a merger which will see Edcon selling the Edgars Active and High Key chain stores to Footgear, in which Old Mutual has a majority stake.

Old Mutual backs Footgear’s plans to buy Edcon’s active stores

2019-07-15 10:00

Old Mutual's private equity arm is backing a plan by Footgear to buy a unit of Edcon in southern Africa to create one of the region’s largest sports and casual wear businesses.

In Matjila's words: Details of Edcon rescue to be made public as ousted CEO's testimony looms

2019-07-07 14:24

Ousted PIC chief Dan Matjila is expected to say his opposition to funding the rescue of clothing retailer Edcon ahead of national elections was one of the reasons he was dismissed.

PIC: We're not being 'politically pressured' to save Edcon

2019-07-04 20:05

The Public Investment Corporation said its decision to invest in retailer Edcon is based on sound commercial, social and governance principles.

ConCourt dismisses appeal by over 1 800 retrenched Edcon employees

2019-05-02 17:52

The Constitutional Court has dismissed an appeal by 1 818 retrenched employees of retailer Edcon.

Edcon secures R2.7bn from lenders, landlords in rescue

2019-03-01 19:25

Edcon has raised R2.7bn from lenders, landlords and the Public Investment Corp as the clothing retailer wraps up its latest restructuring plan.

Edcon said to be in talks for R3bn rescue funding

2019-01-23 21:20

The Public Investment Corp, Africa’s largest fund manager, may provide R1.8bn to assist the company, says the people, who asked not to be identified as the information isn’t yet public.

Numsa, Saftu hold mass march ahead of national shutdown

2018-12-20 21:33

Saftu is supporting unions in preparation for a national shutdown in March next year, as well as a radical workers party which will contest power at the elections.

Edcon chief confirms recapitalisation drive

2018-12-16 13:59

Edcon group CEO Grant Pattison said these discussions are in the final stages of resolution and "significant progress is being made, with all stakeholders indicating their support and strong commitment to the process".


Embattled Edcon shuts down massive Rosebank Edgars store

2020-01-10 17:04

Struggling retailer Edcon has shut the doors of one its underperforming Edgars stores in Rosebank Mall as a cost cutting measure.

Competition Commission backs Footgear's plan to buy Edgars footwear brands

2019-09-13 14:00

The Competition Commission has given the nod to Footgear's proposed purchase of Edcon's Edgars Active and High Key chain stores, saying it recommends the Competition Tribunal should approve the deal without conditions.

Matjila: I was removed because I did not agree to save Edcon

2019-07-10 21:38

Ex-PIC head Dan Matjila has said part of the reason he was removed was so that a deal to save Edcon could be finalised before the national elections.

Matjila to say his ouster from PIC was political

2019-07-06 11:59

The former head of the PIC says he was removed from his job so politically connected people could influence the fund's investment decisions.

Public Investment Corporation pressured by union to rescue Edcon

2019-06-28 08:36

Labour union federation Cosatu signaled a "massive fight" with the ANC if state-owned fund manager the Public Investment Corporation failed to rescue the country’s second-largest clothing retailer, Edcon Holdings.

Competition Tribunal approves IDC, Celrose merger with conditions

2019-04-12 18:55

The Competition Tribunal has approved, subject to certain conditions, the state-owned IDC's acquisition of Celrose - of which Edcon is a majority shareholder.

Edcon recapitalisation process on course - CEO

2019-01-31 18:53

The recapitalisation process of the country’s largest clothing retailer, Edcon, is moving forward at a normal pace, says CEO Grant Pattison.

Edcon passes next hurdle in recapitalisation plan - CEO

2018-12-21 12:28

The restructuring and recapitalisation of Edcon, which includes Edgars, Jet and CNA, has passed its next hurdle, says CEO Grant Pattison.

Ferial Haffajee: Is this why Edgars is in so much trouble?

2018-12-20 07:32

Edgars lost its golden thread and it's going to need a Midas touch to bring it back, says Ferial Haffajee.

Boss of Edgars, Jet, and CNA denies report of ‘collapse’ that could close 1,300 stores

2018-12-16 11:46

The Sunday Times reported that the major retailer will close stores if an offer to landlords is rejected, which could wipe out 140,000 jobs in total.

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.