The auditor general report noted that the national carrier is fully-funded by equity or bailouts, but inefficient governance is keeping it in choppy waters
Tongaat Hulett can only exit business rescue once the approved plan is largely implemented or the company is no longer financially distressed
Vision Partners say they will “engage and settle” with the SA Sugar Association
Bidder says rescue practitioners tried to manipulate process to favour ANC funder Robert Gumede
It highlights that changes need to be made in their operation, experts say
Thousands of livelihoods in the sugar supply chain are expected to be impacted by the closure
The chief executive will step down on 28 February, the new date for the publication of the strategy
Tongaat Hulett said it entered into business rescue due to its debt burden and that waiting for additional funding exacerbated the already dire situation
Independent retail analyst Syd Vianello says going under business rescue does not mean Edcon will be saved, “it simply gives business rescue practitioners a chance to work out how they can save the company”
With Covid-19 halting air travel, labour unions have been told that lack of post-commencement funding and travel bans have forced airline to the point of no return