Struggling retailer Edcon, which owns Edgars and Jet, is set to commence with voluntary business rescue proceedings according to a letter sent by its CEO Grant Pattison to creditors and suppliers dates 29 April 2020.
As reported by Savanna News, the Group CEO previosly told creditors the company could fail to open after the covid-19 pandemic. He said the company only had cash to pay workers and could not pay its suppliers.
The CEO shed tears whilst talking to suppliers about the situation his company was experiencing. The company is likely to lay off workers as a means of containing costs.
Read More: Edgars, Jet may close forever after lockdown
For Jobs visit Vacancy Mail