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The owner of a Spar store in Johannesburg has opened a case of fraud against the company's leadership, saying it deliberately inflated the price of the loss-making store he bought five years ago to make its balance sheet look better.
The decision by businessman Amaan Sayed to go to the police, marks a ratcheting up of his quarrel with the Spar Group. It comes after Spar and Sayed failed to find common ground in mediation talks that lasted three months.
The JSE-listed grocery chain has strenuously denied Sayed's claims of wrongdoing, saying the sale of the store in 2018 was a legal commercial transaction like any other.
