COVID Hangover: Another Major South African Retailer Forced Into Business Rescue

In what has become an all-too-familiar phrase for many a South African business, 'cash-flow problems stemming from the Covid-19 pandemic' has forced another one of South Africa's major retail stores into business rescue. Unable to keep up with its operational costs, Cross Trainer announced on Wednesday that it has gone into business rescue, affecting 67 stores nationwide.

” Cross Trainer's woes are shared with several other major South African companies. AutoZone, West Pack Lifestyle, and Hohm Energy have all been placed under business rescue in South Africa. Autozone, the largest privately owned automotive parts retailer and wholesaler in South Africa entered business rescue in 2014 due to poor performance and debt servicing costs.

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