Tongaat Hulett gets IDC cash injection ahead of business rescue plan deadline

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The sugar giant will use the money to pay salaries, growers and others who depend on the company

Sugar giant Tongaat Hulett has received a welcome cash injection ahead of the deadline for its business rescue plan in about a month’s time.

The company announced the undisclosed sum of post commencement finance, money given to a company once it has entered business rescue, from the Industrial Development Corporation in a statement on Wednesday...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

 

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