Office continues to struggle, with sales down almost 50% between March 24 and June 14 compared to the year before due to lock down. This is because all UK stores were closed and only its stores in Germany traded.Truworths said in a bid to"secure the long term viability” of Office, it is embarking on a process to cut staff, renegotiate store leases and increase debt and funding.
In a weak SA economic environment, many SA businesses have tried to expand abroad to improve fortunes, but have struggled. Mr Price was cautious and only opened a few stores in Poland, Australia and Nigeria and has exited these countries with one last store in Nigeria to be shut this year.
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