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Retail News

 

Ancora Group

South Africa’s restaurant sector is on its knees as the coronavirus crisis and stringent lockdown measures threaten the livelihoods of the 800,000 people employed in the industry.While sit-down meals are now allowed in restaurants after a months-long ban, alcohol sales with meals are still out of bounds, starving many restaurants of much-needed income.The industry was dealt another blow with this week’s reintroduction of a curfew between 21:00 – 04:00. According to industry representatives, restaurants do the majority of their business after 17:00. If restaurant staff need to be in theirSEE DETAILS <span class="more-link-h...

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Ancora Group

The Foschini Group (TFG) says it has submitted a conditional offer to acquire Edcon’s business rescue practitioners to acquire some of the stores and assets of JET. In the offer submitted on Friday, TFG offered Edcon R480 million to acquire a minimum of 371 commercially viable JET stores.  Edcon, which owns Edgars and Jet Stores, announced in late April that it would file for voluntary business rescue after the nationwide lockdown exacerbated its already dire financial position. In June, its BRPs said the only way to save the company and the jobs of its thousandsSEE DETAILS <span class="more-link-hover-ima...

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Ancora Group

JOHANNESBURG – Edcon Holdings Ltd. agreed to sell part of South African clothing chain Edgars to a private equity-backed regional rival, potentially safeguarding a 91-year-old brand and saving thousands of jobs. Administrators led by Lance Schapiro and Piers Marsden struck a deal with Retailability Pty Ltd., a holding company for brands Legit, Beaver Canoe and Style, which owns 460 stores across southern Africa. Details of the transaction will be finalized based on further agreements, the business-rescue team said in a statement on Tuesday. “This is a good outcome for Edgars — ifSEE DETAILS <span class="more-link-hover-ima...

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Ancora Group

Retail – or at least some businesses within the sector – was one of the few industries able to remain operational through all five stages of government’s risk-adjusted response to the coronavirus pandemic.But, like other essential services allowed to continue operating, shops that remain open face a major challenge: curbing the spread of the virus at their premises.e-Commerce and delivery services have wasted no time stepping in to fill the gap, with customers scrambling to book delivery slots at major supermarkets, and services like OneCart racing to expand their operationsSEE DETAILS <...

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Ancora Group, Ancora Group

Free Bird is a new premium chicken burger chain, but is delivery-only on Uber Eats and Mr D – for now.The company is launching two stores in Cape Town later this year.Burger prices start R85 for a basic burger – buttermilk crispy chicken in a brioche bun.The company behind Kauai has launched a “premium” chicken burger chain called Free Bird, but it’s delivery-only for now. For chicken burger enthusiasts, we’re talking about buttermilk crispy freerange chicken and brioche buns – and that is a “basic” burger.Free Bird says it’s “re-imagining comfortSEE DETAILS ...

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