The Competition Commission has recommended an offer by the retail giant to acquire the stores and staff of the failed furnisher.

The furniture retailer’s balance sheet was burdened by climbing bad loans and restructuring within the group.

The struggling retailer’s shares rose on news that it had found a buyer for its loan book, allowing it to focus on its retailing and product range.

The Reserve Bank has placed the sinking lender under curatorship in a bid to save investors.

A larger than expected loss has not phased investors who believe better days are ahead for the countries largest unsecured lender.

African Bank Investments aims to raise R4-billion through a Goldman Sachs rights offering and the sale of furniture retailer Ellerines.

High levels of credit may have contributed to the cocktail of factors that led to the bloody clashes between police and Lonmin strikers.