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".

Edgars parent to close Boardmans, La Senza and other chains in recovery plan

2018-07-05 11:24

Edcon Holdings is planning to close chains including Red Square cosmetics and La Senza lingerie as part of a recovery plan to lure their customers to its flagship Edgars clothing stores.

Edcon lender talks signal final step in Bain refinancing plan

2018-03-08 17:21

Edcon CEO Grant Pattison says talks between owners and lenders to refinance about €200m of debt signals the final step in a recovery plan.

 

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.

Edcon moves to a decentralised model

2018-04-20 05:56

Edcon has revealed its growth strategy for each of its retailers and says it does not plan to list on the JSE.

Zim currency woes to hit Edgars product range

2017-09-25 11:19

Edcon’s Zimbabwe-based clothing retailer Edgars says prevailing foreign currency shortages will impact its product range, particularly in the fourth quarter.

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