Tag: Grant Pattison

UIF & PIC in talks with Edcon over a potential lifeline

South Africa’s oldest retailer Edcon has confirmed the expected – that it may not emerge from Covid-19 lock-down alive. The 90-year-old retailer has entered voluntary business rescue after losing R2 billion in sales during the COVID-19 crisis and lock-down which has made it difficult to pay suppliers and debtors. Joining CNBC Africa to discuss what a rescued Edcon may look like in future is Teboho Maruping, Commissioner, Unemployment Insurance Fund.

How Edcon may emerge from business rescue

South Africa’s oldest retailer Edcon has confirmed the expected – that it may not emerge from Covid-19 lock-down alive. The 90-year-old retailer has entered voluntary business rescue after losing R2 billion in sales during the COVID-19 crisis and lock-down which has made it difficult to pay suppliers and debtors. Joining CNBC Africa to discuss what a rescued Edcon may look like in future is Independent Retail Analyst, Chris Gilmour and Teboho Maruping, Commissioner, Unemployment Insurance Fund.

Edcon files for business rescue as COVID-19 lockdown brings it to its knees

Embattled retailer Edcon has entered into voluntary business rescue proceedings after losing R2 billion in turnover during South Africa’s lockdown, this was said in a statement on its website. The...

Edcon CEO Grant Pattison’s impassioned plea to suppliers

On Thursday Edcon CEO Grant Pattison broke down as he spoke to suppliers about the implications of COVID-19 and #21daylockdownSA for one of the continent’s oldest clothing retailers. This is what he said….

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.

RCS buys Absa portion of Edcon store card debtors’ book

RCS a subsidiary of BNP Paribas has acquired the Absa funded portion of the Edcon Store Card debtor’s book. RCS has also secured the right to provide consumer finance products to Edcon customers. Grant Pattison, CEO of Edcon Group and Regan Adams, CEO of RCS Group join CNBC Africa for more.

Grant Pattison on Edcon’s comeback plan

CEO of embattled Edcon Group, Grant Pattison spoke to CNBC Africa’s Kopano Gumbi about the retailer's turnaround journey.

Why Taste has no plans to delist, reveals plans for Starbucks & 2019

The debt-laden franchisor, which owns the South African licence for Starbucks and Domino’s Pizza reckons it has a way out of the troubled year it had in 2018
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