News Formal

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

  • 📰 2oceansvibe
  • ⏱ Reading Time:
  • 19 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 51%

After-Effects Of COVID-19 Nyheter

Business Rescue,Cross Trainer,Economy

South African and global news updates with a twist. 2oceansvibe is South Africa’s biggest solely owned online news platform with local and world news updates.

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 43. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

South African companies are over-investing in solar power – and face risks by doing soA recent study by Discovery Green highlighted several key problems with how South African companies are approaching renewable energy.
Källa: BusinessTechSA - 🏆 24. / 61 Läs mer »

South African companies are over-investing in solar power – and face risks by doing soA recent study by Discovery Green highlighted several key problems with how South African companies are approaching renewable energy.
Källa: mybroadband - 🏆 11. / 67 Läs mer »