News Formal

Another casualty of weak economy: Cross Trainer enters business rescue

  • 📰 TheCitizen_News
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 75%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The business owners struggled to maintain payments to some of the 67 stores they own.

Popular sportswear retailer the Cross Trainer has entered a business rescue due to financial stress. Picture: Menlyn Park Mall website.

However, former employees of the retailer said difficult times have already begun for them as they were not informed about the decision of the business being rescued. “People arrived at the shop and we were told the shop will close, then the next day we were told that we are being retrenched.” Nell said they will look into the employees’ complaints while they find a way forward to ensure that they get the Cross Trainer stores back on their feet.previously reported the three businesses

 

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:

 /  🏆 6. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Yet another major company in South Africa enters business rescueSports retailer Cross Trainer has entered business rescue, joining a growing list of high-profile companies in distress.
Source: BusinessTechSA - 🏆 24. / 61 Read more »