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Shoeperama in business rescue

Published: 18th May 2020
Author: Tony Dickson - S&V Editor
Durban, KZN, SA – Mini-chain Dened cc, which trades as Shoeperama, was placed in Business Rescue on March 19, according to a circular last week from business rescue practitioner Neil Button of Stowell Estate Administration Trust in Pietermaritzburg.
       Commenting to the Newsletter last October, Dened member Eddie Lahee said the business had shrunk from 23 to 9 stores because of poor trading conditions.
       In his circular, Button wrote: "In light of the lockdown...the CIPC had suspended business rescue practices from 24 March to 30 April 2020...In light of the above, the business rescue practitioner was unable to adhere to the statutory time limits within which to convene meetings of creditors and employees." He wrote that a further notice would be communicated "shortly".
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