Edcon says it has buyers interested in its assets

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The embattled retail group says it has had various offers for its divisions, and its survival depends on these sales

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Shoppers walk past an Edgars store at a shopping centre in Soweto, Johannesburg. Picture: REUTERS / SIPHIWE SIBEKO

Edcon was placed into business rescue in April despite a R2.7bn bailout by the Public Investment Corporation, landlords and creditors in December 2018. Employees, creditor landlords and other parties need to approve the plan by June 15 in compliance with the companies act​. It says if the business is not bought, it will be liquidated with no interest from funders to further invest money into it.

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