Business rescue practitioners at Edcon pitched an “accelerated sale process”, a rarely used corporate finance tool allowing a distressed company to sell itself or assets in a matter of weeks, as probably the best route to keeping the retailer afloat.
The team, led by Lance Schapiro and Piers Marsden of turnaround specialist firm Mutuson & Associates, had little choice.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.
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