News Formal

EDITORIAL: Tongaat must take advantage of business rescue process

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Nigeria News News

Only way to save hundreds of thousands of jobs is to make sugar producer more resilient

For the 500,000 people who rely on Tongaat Hulett in the Southern Africa region, a gloomy festive season beckons.

A household name in corporate SA, Tongaat’s SA operations tumbled into business rescue earlier this month, with management throwing in the towel four years after disclosures of dodgy accounting practices punched a R12bn hole in its balance sheet, making it the latest high-profile SA company to seek protection from creditors. ..If you have already registered or subscribed, please sign in to continue.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Abandoning core sugar business killed off Tongaat HulettAbandoning core sugar business killed off Tongaat Hulett - Departing from its core business, and having its fingers in too many pies, is what crippled Tongaat Hulett and ultimately left it open to massive fraud
Source: mailandguardian - 🏆 2. / 92 Read more »

Abandoning core sugar business killed off Tongaat HulettAbandoning core sugar business killed off Tongaat Hulett: Departing from its core business, and having its fingers in too many pies, is what crippled Tongaat Hulett and ultimately left it open to massive fraud
Source: mailandguardian - 🏆 2. / 92 Read more »