Edcon: Another rescue on the cards?

2020-04-08 21:01

Edcon expects to lose R800 million in revenue during the national lockdown. But having received help just a year ago, would there be appetite from creditors and others to extend a lending hand again?

Financial advisers 'surprised' by inclusion in PIC report, deny receiving R44 million payment

2020-03-14 11:54

President Cyril Ramaphosa released the 995-page report into allegations of impropriety at the state-owned asset manager this week.

As SA retailers struggle, other African markets start to shine

2020-01-19 08:00

Seven of the top 30 economies whose retail sector showed considerable growth in 2019 were from Africa, however SA did not even get ranked among the 200 economies featured.

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, like SAA, 'on life support for a long time' - analyst

2020-03-28 07:00

Edcon has something in common with troubled state-owned airline South African Airways: it has been on life support for a long time, says Evan Robins, portfolio manager at MacroSolutions, Old Mutual Investment Group.

The CEO of Edgars and CNA now deals with customer complaints himself – here's what other bosses can learn from his approach

2020-01-29 06:34

Grant Pattison has expressed frustration with Edcon's current customer service.

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.

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