Results for Business rescue

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Helping businesses navigate through today's challenging economic environment
Helping businesses navigate through today's challenging economic environmentArticle

The Covid-19 pandemic has brought disruptions and devastating impact on the South African economy with several businesses reeling from the effects of this pandemic. The South African and global economy has taken an unexpected turn and this has had dire consequences on businesses...

Issued by Enterprises University of Pretoria 3 days ago

Julian Herzog via
Public enterprises calls for patience on SAA matterArticle

The Department of Public Enterprises has called on South African Airways employees and creditors to be patient while work continues to find a constructive outcome to challenges at the airline...

3 days ago

5,200 jobs saved as Edcon concludes sale of parts of Edgars
5,200 jobs saved as Edcon concludes sale of parts of EdgarsArticle

Approximately 5,200 retail industry jobs will be saved, as Edcon announced this week that the sale of parts of the Edgars business in South Africa to Retailability Ltd has been implemented...

17 Sep 2020

E&T Minerals announces bid for Optimum Coal Mine
E&T Minerals announces bid for Optimum Coal MineArticle

South African commodity trading and brokerage house E&T Minerals is one of the companies/organisations bidding for OCM (Optimum Coal Mine)...

Issued by E&T Minerals 17 Sep 2020

Headline speakers announced for the SingularityU SA Online Summit 2020
Headline speakers announced for the SingularityU SA Online Summit 2020Article

SingularityU announces a multi-national lineup with world renowned speakers addressing ground-breaking topics...

Issued by Mann Made 9 Sep 2020

Comair confirms publication of a business rescue plan
Comair confirms publication of a business rescue planArticle

The turnaround plan is focused on rationalising operating costs and growing ancillary revenue...

3 Sep 2020

Phumelela Gaming and Leisure business rescue practitioner proposes Mary Oppenheimer and Daughters' bid
Phumelela Gaming and Leisure business rescue practitioner proposes Mary Oppenheimer and Daughters' bidArticle

Phumelela business rescue practitioner John Evans has selected Mary Oppenheimer and Daughters' post-commencement finance offer of R550m to present to Phumelela creditors for approval...

Issued by Ninety9cents 25 Aug 2020

Edcon signs agreement to sell parts of Edgars to Retailability
Edcon signs agreement to sell parts of Edgars to RetailabilityArticle

Edcon has signed the purchase agreement for the sale of "parts of Edgars" to competitor Retailability Pty (Ltd) for an undisclosed sum...

25 Aug 2020

TFG reaches agreement with Edcon to buy Jet assets
TFG reaches agreement with Edcon to buy Jet assetsArticle

Foschini and Markham owner TFG announced that it has successfully negotiated and concluded an agreement to buy select assets of value clothing retailer Jet from Edcon...

18 Aug 2020

bobbycrim via
The cotton sector: A myriad of challenges, a world of opportunitiesArticle

While considerable effort has already been made, massive growth in the local market is needed to diversify South African cotton into new markets...

Cobus de Bruyn 11 Aug 2020

Paul Tyson via
Comair's business rescue practitioners request extensionArticle

The request for an extension until 28 August 2020 is so the practitioners can negotiate short-term bridging funding as post-commencement finance and advance two offers from potential investors.

29 Jul 2020

Tripadvisor awards FlySafair 'Best Airline in Africa and the Indian Ocean'
Tripadvisor awards FlySafair 'Best Airline in Africa and the Indian Ocean'Article

While the recent lockdowns globally and locally have stifled the travel industry, FlySafair continues to weather the storm and is presently operating 36% of the available seat capacity on the South African domestic market.

29 Jul 2020

How the business rescue process works
How the business rescue process worksArticle

Are you or your clients facing business collapse? The South African Institute of Chartered Accountants (Saica) explores practical options relating to the business rescue process and turnaround interventions...

Issued by SAICA 20 Jul 2020

Distressed M&A: You do not have to sell cheaply, but you must move quickly - Part 1
Distressed M&A: You do not have to sell cheaply, but you must move quickly - Part 1Article

While it is too early to know the full impact of Covid-19 on the economy, we are seeing that lockdown restrictions in South Africa are starting to have a significant impact on the bottom line of a number of companies...

Tony Lee and Justin Balkin 15 Jul 2020

MeRyan via
SAA's business rescue exit gets thumbs up from pilots' associationArticle

The approval of the business rescue plan must usher in a new era of transparency and accountability at the airline, if SAA is to succeed...

15 Jul 2020

TFG agrees to buy selected Jet stores and related assets for R480m
TFG agrees to buy selected Jet stores and related assets for R480mArticle

TFG has entered into an agreement to buy certain "commercially-viable stores and selected assets" of Jet from embattled Edcon for a cash purchase consideration of R480m...

13 Jul 2020

Unions accept SAA severance packages
Unions accept SAA severance packagesArticle

Labour unions, representatives of non-unionised managers and ground staff have agreed to accept the South African Airways (SAA) voluntary severance packages (VSPs)...

8 Jul 2020

Webinar to showcase Business Hub services
Webinar to showcase Business Hub servicesArticle

Alderman James Vos and The City of Cape Town's Mayoral Committee and officials from the Enterprise and Investment Department will host a webinar to discuss support for SMMEs...

8 Jul 2020

Owner of Legit offers to buy part of Edgars
Owner of Legit offers to buy part of EdgarsArticle

Parts of South African retail chain Edgars may be sold to Edcon competitor Retailability Ltd, business rescue practitioners in charge of Edcon's restructuring said...

8 Jul 2020

SAA liquidation means financial hardship, DPE warns
SAA liquidation means financial hardship, DPE warnsArticle

In a statement issued on Thursday, the department said SAA stakeholders should realise that business rescue provides a better outcome than liquidation and should be supported for their collective interests...

2 Jul 2020

Cabinet backs establishment of new airline
Cabinet backs establishment of new airlineArticle

Cabinet has expressed support for the establishment of a new airline and has backed the concerted efforts to mobilise funding from various sources that will see the proposed carrier take off...

29 Jun 2020

Julian Herzog via
SAA business rescue plan vote given green lightArticle

The Department of Public Enterprises has welcomed the judgment to strike off the roll an urgent court application by SA Airlink...

25 Jun 2020

Edcon business rescuers ask for 157% increase
Edcon business rescuers ask for 157% increaseArticle

Fees charged by liquidators and business rescue practitioners, and the impact they can have on bottom line payouts to affected employees, came under the spotlight at Monday's meeting to consider a business rescue model for Edcon...

Tania Broughton 24 Jun 2020

Conflicting judgments on 'no work no pay' cases
Conflicting judgments on 'no work no pay' casesArticle

The Johannesburg High Court recently found in the matter of Mhlonipheni v Mezepoli Melrose Arch and Others (2020) that employees (in this case, employed by the Mezepoli and Plaka chain of restaurants) were able to tender their services during Level 4 and 5 of the National Lockdown...

Bradley Workman-Davies 19 Jun 2020

davidlee770924 via
How hotel management companies should prepare hotel owners for crisesArticle

No industry experiences smooth sailing all of the time. While you cannot prepare for everything ? we certainly did not foresee a global pandemic sending much of the world into lockdown so swiftly ? it is essential to have strategies in place to be prepared for potential crises...

Guy Stehlik 18 Jun 2020

Edcon files to fire roughly 17,000 people, as other retailers struggle
Edcon files to fire roughly 17,000 people, as other retailers struggleArticle

While Edcon issues section 189s to 22,000 workers, mid-sized retailers warn of bigger job-losses if their needs are not heard...

Sasha Planting 18 Jun 2020

Business rescue and liquidation have consequences for IP
Business rescue and liquidation have consequences for IPArticle

Intellectual property is often overlooked when a business is compelled to seek business rescue or liquidation, but it may form a valuable asset, requiring decisions to be made on whether to sell it or maintain it...

Bernadette Versfeld 10 Jun 2020

The official era of the entrepreneur
The official era of the entrepreneurArticle

Throughout human history, crises have been pivotal in developing our societies. Pandemics have helped advance healthcare systems, wars have fuelled technological innovations and the global financial crisis helped advance tech companies...

10 Jun 2020

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Challenging the challenges of booking a flight during the Covid-19 pandemicArticle

Even though it might not feel like it when every day is some combination of a nightmare written by Franz Kafka and George Orwell, there will come a time when Covid-19 is behind us and more of us realise that it's safe to fly again...

Eugene Yiga 10 Jun 2020

Using cloud industry trade secrets to cut costs
Using cloud industry trade secrets to cut costsArticle

The recent pandemic has forced companies to go digital. Companies that have already gone digital have increased their capacity...

5 Jun 2020

Bob Adams via
Comair's business rescue practitioners outline planArticle

Comair is unlikely to start operating again before November this year, notwithstanding the easing of restrictions on air travel as the airline requires a substantial cash injection...

3 Jun 2020

Image via
Government still to discuss SAA's draft business rescue planArticle

The Public Enterprises Department says it has received a draft Business Rescue Plan for South African Airways, which is under business rescue...

2 Jun 2020

SAA retrenchment process heads to Labour Appeal Court
SAA retrenchment process heads to Labour Appeal CourtArticle

On Friday 8 May 2020, Labour Court Judge Andre van Niekerk delivered a devastating blow to the national airline's "premature" retrenchment process, which is set out to affect at least 5,000 employees...

Malesela Letwaba 27 May 2020

Source: Alternative Information andDevelopment Centre
Is Covid-19 SA's economic wakeup call?Article

The arrival of the Covid-19 pandemic came at a time when the South African economy was already under severe strain, posing not just a health risk to the people, but threatening livelihoods as well...

26 May 2020

Mid-Sized Independent Retailers Group formed to save the 'missing middle'
Mid-Sized Independent Retailers Group formed to save the 'missing middle'Article

More than 50 South African retailers have banded together to form the Mid-Sized Independent Retailers (MIR) Group...

21 May 2020

Numsa vs SAA - death knell to successful business rescue?
Numsa vs SAA - death knell to successful business rescue?Article

On Friday, 8 May 2020, the Labour Court upheld an urgent application by Numsa and the SA Cabin Crew Association (the Unions) against South African Airways (SAA) and its business rescue practitioners (BRPs) and ordered that it was procedurally unfair to retrench employees before a business rescue plan contemplating such retrenchments was published and adopted...

Wessel Badenhorst and Chris Rey 11 May 2020

Covid-19 knocks tax revenue performance
Covid-19 knocks tax revenue performanceArticle

The ailing economy compounded by the Covid-19 pandemic have knocked South Africa's tax and revenue performance...

7 May 2020

Comair enters business rescue
Comair enters business rescueArticle

"While we had started making good progress to fix the financial situation six months ago, the crisis has meant we have not been able to implement it as we intended."

6 May 2020

R2bn in lost sales forces Edcon to file for business rescue
R2bn in lost sales forces Edcon to file for business rescueArticle

The Edcon group announced today that its board has passed a resolution authorising it to file for business rescue in the course of the next few days...

29 Apr 2020

Managing a company during Covid-19: SA directors and their duties
Managing a company during Covid-19: SA directors and their dutiesArticle

The effects of Covid-19 on the economy has led to many companies facing the possibility of being declared financially distressed. The mounting pressure on directors to appropriately fulfil their duties in response to this crisis will continue into the foreseeable future...

Stephen Kennedy-Good and Ally Chalwin-Milton 23 Apr 2020

The future of business beyond the lockdown
The future of business beyond the lockdownArticle

As the global toll on human life grows, so too does the toll on livelihoods and businesses everywhere...

Adam Craker 20 Apr 2020

Why the SA mining Industry needs a regulatory lifeline
Why the SA mining Industry needs a regulatory lifelineArticle

The mining industry is a significant contributor to South Africa's GDP. It is also a substantial employer. As a net-exporter of minerals, the mining industry is also a source of foreign currency, putting healthy pressure on the exchange rate...

Wessel Badenhorst, 20 Apr 2020

How to save your company from the impact of Covid-19
How to save your company from the impact of Covid-19Article

The global outbreak of Covid-19 and the subsequent national lockdown announced by President Cyril Ramaphosa in March 2020 have undoubtedly impacted many companies...

John Evans 17 Apr 2020

Fluence Capital offers businesses guidance and support in lockdown
Fluence Capital offers businesses guidance and support in lockdownArticle

Fluence Capital, a financial and strategic advisory company, is now offering pro-bono support and guidance for South Africans facing the potential loss of their business due to the Covid-19 lockdown.

15 Apr 2020

Lockdown set to hit already troubled construction industry hard
Lockdown set to hit already troubled construction industry hardArticle

The lockdown and its aftermath are set to raise all sorts of issues for an industry that is already in trouble...

15 Apr 2020

Don't mince your words when making payment holiday requests
Don't mince your words when making payment holiday requestsArticle

Financial managers are going to be kept busy over the next few months, prioritising payments, hopefully keeping people in their jobs, and managing the expected Covid-19 financial disaster...

PJ Veldhuizen 2 Apr 2020

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