South African clothing stores Edgars and Jet may not be able to reopen after the coronavirus lockdown.
Bulk of Edcon’s more than 1,000 clothing stores will close, and that will cost the retailer about R800-million in sales while essential service providers like pharmacies and grocery shops will operate during the 21 day lock down period.
That’s according Edcon CEO Grant Pattison who told suppliers on the eve of the lockdown that March revenue will be R400-million below forecasts.
It’s a devastating blow to Edcon suppliers.
Pattison told suppliers during a conference call that the company only has sufficient liquidity to pay salaries.
The move by the South African main head office will affect operations in South Africa, Namibia, Botswana, Lesotho, Swaziland, Mozambique, Ghana, Zimbabwe and Zambia