Construction and engineering firm Stefanutti Stocks, which is battling to avoid joining recently delisted peers, is looking to continue cutting jobs and selling off assets after Covid-19 put additional strain on a company already struggling to collect from clients.
The group operates in SA, Sub-Saharan Africa and the UAE, and, like many other construction firms, it has struggled amid a dearth of investment in infrastructure. The group’s liabilities exceed its assets by about R67m from the end of its six months to end-August...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 Sunday Times Daily.
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