BL PREMIUMEdcon's creditors approved the company’s business rescue plan after a meeting on Monday, with the practitioners having successfully warded off some creditors who tried to stop the process.
The plan was backed by more than 75% of creditors and has been formally approved, according to the results of the vote circulated by the practitioners and seen by Business Day. Edcon later confirmed the outcome.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.
Philippines Philippines Latest News, Philippines Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING NEWS: Edcon business rescue approvedBusiness rescue practitioner Lance Schapiro says approval of the plan was backed by most creditors
Source: BDliveSA - 🏆 12. / 63 Read more »
Edcon business rescue practitioners oppose creditors' court bid to halt vital talksThe law - and the need to urgently “rescue” Edcon to ward off a complete collapse of the retailing giant and huge job losses - stands against a legal bid by some creditors to stop meetings to be held on Monday to approve or reject the business rescue plan for the company
Source: TimesLIVE - 🏆 28. / 59 Read more »
Edcon business rescue practitioner is running the firm from CanadaEdcon staff and creditors, who are owed a collective R6.7bn, are supposed to vote on the business rescue plan later on Monday
Source: BDliveSA - 🏆 12. / 63 Read more »