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Edcon business rescue practitioner is running the firm from Canada

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Edcon staff and creditors, who are owed a collective R6.7bn, are supposed to vote on the business rescue plan later on Monday

An urgent court bid by two clothing companies to interdict Edcon’s meeting on its business rescue plan from going ahead on Monday afternoon, has failed.

The creditors — Kingsgate clothing company and Clematis, a clothing manufacturing company — approached the court on Monday morning seeking an urgent interdict to stop Monday’s afternoon meeting.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Source: News Formal (newsformal.com)

 

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