Pietermaritzburg, KZN, SA - There are ongoing negotiations between the shareholders of Celrose (Pty) Ltd and unidentified prospective buyers over the potential sale of Celrose subsidiary Eddels Shoes.      As of early last week, no offer had been received from the prospective buyer or buyers. According to a s ...more

Pietermaritzburg, KZN, SA - Despite a flurry of rumours in the industry, and the unavailability of senior personnel, there is no imminent deal for the Industrial Development Corporation to dispose of Eddels, IDC head of corporate affairs, Tshepo Ramodibe, said yesterday (Monday).      The IDC is the majority ...more

Edcon, once the biggest fashion retailer in SA, went into business rescue at the end of April. CEO Grant Pattison, in charge for the past 2 years, blamed the lockdown as the final straw in the long slide which began in 2007 when it was acquired by US private equity firm Bain Capital for a - with hindsight - unsustainable R25 billion and d ...more

Edcon deal will take it to close to 200 storesCape Town, W Cape, SA – A lot of things have come together for retailer Footgear in the last 2 months.       On June 6, Old Mutual Private Equity (OMPE), the direct private equity investing arm of Old Mutual Alternative Investments, announced the acqu ...more

Johannesburg (SA) – Edcon’s 3rd quarter sales, including most of December, were down 2% on the previous year, CEO and MD Bernie Brookes told suppliers this week.        In a letter dated February 21, he wrote:        “Total revenues decreased by R185 million, or ...more