In a statement on Wednesday, the company which owns Edgars and Jet, said it had lost R2 billion in sales since the president declared a state of national disaster over the COVID-19 outbreak in March.
“The sales miss, and the decline in collections of the debtor’s book has meant that meant that Edcon is unable to pay its suppliers for both the March and April month-ends. Paying April salaries will require assistance from the UIF COVID-19 TERS program. Edcon also anticipates that the sales will be depressed for some time during the ‘COVID-19 Risk-Adjusted Strategy’ phase, which may last several months.
They lost nothing....They still hv the stock mos. How can u loose sales if u still hv stock
Dark days ahead 💔
Oh God.
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BREAKING NEWS: Edcon enters business rescueThe embattled retailer says that the Covid-19 lockdown resulted in R2bn in lost sales When the president announced two weeks more to lockdown, it was like a final nail to a coffin!
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BREAKING NEWS: Edcon enters business rescueThe embattled retailer says that the Covid-19 lockdown resulted in R2bn in lost sales When the president announced two weeks more to lockdown, it was like a final nail to a coffin!
Source: BDliveSA - 🏆 12. / 63 Read more »