S&V Weekly Newsletter Vol.10 No.43, October 21 2024

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The Cross Trainer to be liquidated: ‘Sad but we move on,’ say suppliers

Johannesburg, Gauteng, SA - The business rescue practitioners appointed to investigate Frame Leisure Trading (Pty) Ltd – which traded as The Cross Trainer, XKids and Xtrend – last week told creditors there was “no reasonable prospect” for the company being rescued, and said they would apply to the Johannesburg High Court for an order “discontinuing the business rescue proceedings and placing the company into liquidation on an urgent basis”.
     In a circular to creditors, BRPs Thomas Nell and Gideon Slabbert of Corporate Business Rescue said they hadn’t been able to find financiers for the business, that most of the landlords for the 70-odd stores had cancelled their lease agreements, and that the company’s employees hadn’t been paid in full for September.
     The biggest creditors were Standard Bank and a number of landlords, according to someone who has seen the list. There were 14 trade creditors listed, and a number of others who had bank guarantees.
     Of those approached by S&V, Fila distributor 1721 Distributors MD Laurence Slotsky said: “It’s so, so sad for the industry to lose an independent. There are no new accounts in SA right now.”
     In addition, he said the liquidation compounded issues of overstocking. “Most retailers had poor winter trading and were on sale to clear stock for a few extended months. Cross Trainer ordered for summer, and suppliers will be left with extra stock.”
     In Fila’s case, he said most of the summer inventory for Cross Trainer had been children’s footwear. “That’s very strong for November and December, so we will flow more kids stock into our own stores and supply those retailers who have not purchased enough kids’ inventory for summer as business picks up. Kids is a banker this time of the year.”
     Puma Sports Distributors MD Luke Barrett-Smith said stock originally intended for Frame would be sold.
     “It’s always a pity to lose a long-term partner,” he said. “There will be impacts but we are confident in our forward plans which have already taken this possibility into account.”
     Crick Group CEO Michael Joseph said Crick had not bought stock for The Cross Trainer for 2 years.

Paris Belts management form own company

Johannesburg, Gauteng, SA – The former management staff of Paris Belts have formed a new company, Paris Manufacturing (Pty) Ltd, operating from the same premises and offering the same core brands.
     “As of November 1, our company name has changed from Paris Belts to Paris Manufacturing,” sales director Michelle van Emmenes wrote. “Since the passing of Ben Cartoon in 2019, Paris Belts has been managed by a dedicated team of 4 previous department managers. We have expanded into new high fashion designs while maintaining our commitment to classic styles and quality standards.
     “Our core brands – Paris Premier, Belchini, Paris, and Americano – will continue to be our primary offerings to independent retailers.”
     The other 3 directors are Brian Haarburger (MD), Taariq Mahomed Hoosen (Director of General Operations), and Noushard Mahomed Hoosen (Director of Technical).
     Non-resident Irwin Belcher, who was the majority shareholder in Paris Belts, is not a shareholder in Paris Manufacturing, but he remains the landlord.

Grit Procurement in business rescue

Pretoria, Gauteng, SA – Grit Procurement Solutions (Pty) Ltd, which sells several categories of PPE, and school, sport and corporate clothing, went into business rescue on 07 October, according to a circular last week from Daniel Terblanche of Terblanche Restructuring Services.
     The first creditors meeting, via video conference, is today at 10.00

First Teams chat on all matters relating to footwear overruns time in an absorbing presentation

The first discussion last week in a planned series of online Teams chats hosted by “Kushy” (Richard Kushlick) and “The Shoedog” (Wade Motawi), on "The importance of being able to accurately calculate footwear production costs, and the consequent benefits", “was successful beyond our expectations”, Kushlick said afterwards.
“Attendees were able to glean valuable insights into the world of mass production. The people who tuned in included a tanner, retailers, importers, brand managers and distributors, all of whom were interested in the base requirements needed to cost and calculate footwear production ex-China. The scheduled chat (45mins) was extended to well over an hour as pertinent questions continued to flow.
     “Our next chat will be on the 6th of November at 19h00 (CAT) – as we debate the importance and influence of Fashion (aesthetics), Function, Fit, Stability (including comfort) and Price, on the success of a new collection. - https://teams.microsoft.com/l/meetup-join/19%3ameeting_MDIwMTJlMTQtZTliYy00NjE5LThiZmUtZmVmZjA3ZGNlZTVm%40thread.v2/0?context=%7b%22Tid%22%3a%22e1c5445c-a5a3-4c51-adb0-61c23813d53e%22%2c%22Oid%22%3a%229bdce810-beda-4788-9321-aad85851f3b2%22%7d

Introduction to PVC course

Johannesburg, Gauteng, SA – The introduction to PVC course presented by the SA Vinyls Association (SAVA) will take place on 24-25 October 2024 in Modderfontein, Gauteng.
     Industry experts will discuss the fundamentals of PVC formation, stabilisation, additives, recycling and product stewardship. The course ends with an in-person tour through Sasol's testing facility.
Speakers will be Solami Bassaw, research analyst at Plastics SA, Delanie Bezuidenhout, GM at My Walk Made With Soul, Fanie Buys, scientist as Sasol, Monique Hinds. CEO of SAVA, Joe Majorobela, customer support manager at Sasol, Siyethemba Masuku, Sasol, Sebe Mncwabe, analytical services base chemicals at Sasol, Renier Snyman, technical manager at Sunace, and Simphiwe Zungu, technical sales rep at OISA. For further information, contact monique@savinyls.co.za

They Said It

"Of all the words in the English language, to me, the most beautiful word in the dictionary is tariff, and it's my favourite word." - Donald Trump, quoted in various media after a press conference. He said he wanted to impose tariffs of 60% on all goods from China, and 20% on imports from everywhere else.

Got anything you'd like to share?

Do you have any suggestions, comments or experiences about the industry that you'd like to share with the industry? - tony@svmag.co.za

New subscribers last week

Tessa Geyser, Marketing, City Logistics, Durban, South Africa

Birthdays this week

21/10/1971: Derek Malcolm Creed, agent, Port Elizabeth, E. Cape, SA.
21/10/1976: Imraan Ahmod, Spunlok, Pinetown, KZN, SA.
22/10/1954: Madan Ghëla, Ghëla Dayaram & Sons, Pietermaritzburg, KZN, SA.
22/10/1965: Raymond Philander, Nulaw, George, W. Cape, SA.
22/10/1974: Sulaiman Miller, Powerland Group SA Trading, Johannesburg, Gauteng, SA.
22/10/1979: Kevin Govender, Evolution Engineering cc/Ezweni Shoe Components cc, Durban, KZN, SA.
23/10/1940: Pat Coyne, retired, Cape Town, W. Cape, SA. Formerly R. Faulks & Co., Jordan Shoes, Bellstedt, BUSM, Grosby, Pagoda/Brown Shoe.
23/10/1949: Alf Bettoni, ?.
24/10/1956: John Bouwer, Corrida Shoes, Pietermaritzburg, KZN, SA.
24/10/????: Prenisha Dukhipersad, SAFLEC, Durban, KZN, SA.
07/10/1964: Max Schaefer, Nakara, Windhoek, Namibia.
24/10/1995: Sifisosethu Khumalo, Truworths, Cape Town, W. Cape, SA.
25/10/1969: Leon Buhr, Equator Accessories, Pinetown, KZN, SA.
25/10/1966: Michael Schiller, Nakara Leather Tanning & Processing, Windhoek, Namibia.
25/10/1972: Venothan Munsami, BBF Safety Group, Port Elizabeth, E. Cape, SA.
25/10/????: Chrystal Erasmus, previously Imaani, Cape Town, W. Cape, SA.
25/10/1977: Daniel Kerdachi, Flamingo Sales, Durban, KZN, SA.
26/10/1941: Rob Morris, retired, formerly BU Technical [closed], Cape Town, W. Cape, SA.
26/10/1959: Hennie van Zyl, Ostriland, Citrusdal, W. Cape, SA.
26/10/1962: MH Klopper, Bethlehem Hides & Skin, Bethlehem, Free State, SA.
26/10/1971: Ayoob Seedat, Shoe Tech, Springs, Gauteng, SA.
26/10/1973: Grant Walker, McCullough & Bothwell, Johannesburg, Gauteng, SA.
27/10/1949: Rolf Stumpfe, Lederwerkstatt, George, W. Cape, SA.
27/10/1949: Ralph Dodo, Dodo’s, Johannesburg, Gauteng, SA.
27/10/1950: Beverly Phillips, retired, formerly Bata SA / Futura Footwear, Pinetown, KZN, SA.
27/10/1965: Selvan Naicker, Ethekwini Leather, Durban, KZN, SA.

In memoriam this week

22/10/2017: Ben Fourie (b. 05/04/1953), J.W. Lister & Son (closed), Polokwane/Pietersburg, Limpopo, SA.
23/10/2022: Ismail Anwary (b. 15/03/1925), Anwary’s, Butha-Buthe, Lesotho.
24/10/1999: Norma Varley, Edcon, Durban, KZN, SA.
24/10/1995: Wally Zwart, Dick Whittington, Pietermaritzburg, KZN, SA.
25/10/2000: CIR 'Rex' Van Coller, (b. 12/04/1925), agent, Durban, KZN, SA.
25/10/2005: Braam Keyser (b. 05/09/1957), Feltex Automotive Leathers [closed], Ladysmith, KZN, SA.
26/10/2015: Richard Reddiar (b. 29/03/1943), Premier Safety Footwear, Johannesburg, Gauteng, SA.
27/10/1994: Brian Vincer (Futura), Pinetown, KZN, SA.

Have you let us know about your birthday, or the birthdays of your colleagues? Our readers love this section, so please become part of it. This also applies to the In Memoriam section. Help us remember former colleagues.

3. Malawian Kwacha (MWK) (buying)

Source: https://www.rbm.mw/

4. Zambian Kwacha (ZMW) (buying)

Source: https://www.boz.zm/

5. Zimbabwe Dollar (ZWL$) (average) / Zimbabwe Gold (ZiG)

Source: Source: https://www.rbz.co.zw/

Note: For previous rates, see HERE

ABSA Agri Trends: Hides & skins prices

Johannesburg, Gauteng, SA (17 October 2024) - The current average hide price increased by 0.03% to R2.805/kg from R2.804/kg a week ago. The current price is 0.04% lower than the average price a month ago and is 16.77% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R2.75 Maximum price: R3.00. Please note: Our methodology weighs the prices we collect according to the number of hides they sell in a month. This is done to make it more representative of the prevailing market price. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. - Marlene Louw, senior agricultural economist, and Nkhensani Mashimbyi, agricultural economist, and Zama Sangweni, agricultural economist, Absa group.

Note: For previous prices, see HERE

Have a look at these links

We invite businesses to send us links to websites, Facebook pages and the like which they feel would be of interest to others. The links below are from our database:

Shoe Street, Ladysmith, KZN, SA. Women’s and children’s footwear online.
Shoe Studio & Accessories, Gaborone, Botswana. Women’s and men’s footwear and clothing.

THIS WEEK LAST YEAR!

Remaining positive for end-of-year upturn

Boardriders: Wait-and-see for SA operation

Falke South Africa appoints new CEO

Cobblers Lunch: A final farewell

In case you missed it! : The October issue of S&V African Leather Magazine

READ IT HERE - S&V Weekly Newsletter Vol.9 No.43, October 22 2023

THIS WEEK FIVE YEARS AGO!!

Good news last week

Retail last week: Comment from 4 retailers on Saturday

Meetings
- SARS Footwear Industry Task Team
- SAFLIA MANCOM

READ IT HERE - S&V Weekly Newsletter Vol.5 No.43, October 28, 2019

CLASSIFIED ADVERTS

Dilesh Dajee Agencies

Well established freelance agent with 34 years’ experience seeking agency.
Areas covered:  Gauteng, Limpopo, Mpumalanga, North West, Botswana, Lesotho and Eswatini
Kindly contact Dilesh on 082 566 6607
Email : dilesh@icon.co.za

Contact us

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Next newsletter: Monday October 28, 2024. Ad and editorial deadline Friday 25 October.

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