How exposed is SA’s listed property to Edcon?

It’s just over a year since South Africa’s oldest retailer; Edcon secured a R2.7 billion bailout to prevent it from folding. But the economic carnage from Covid-19 has quickly changed its fortunes. The 90 year old retailer says it may not be able to pay its suppliers or reopen its doors after South Africa’s three week shutdown. Just a month ago Edcon CEO Grant Pattison spoke to CNBC Africa about his plans for rebuilding the business. Keillen Ndlovu, Head of Listed Property at Stanlib unpacks what impact Edcon’s folding could have on the property sector.

Fri, 27 Mar 2020 16:16:35 GMT
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