PIC may not be willing to bail out Edcon

By Ann Crotty for Financial Mail

The PIC is so fixated on its own survival it’s probably not in the mood to consider the survival of other chronically poorly managed entities, even those in the private sector.

It’s been almost 12 years since private equity firm Bain thought it would be a brilliant idea to spend R25bn taking one of the country’s most successful clothing retailers private, load it up with tax-deductible debt and pocket lots of profit.

Read more here: https://www.businesslive.co.za/fm/fm-fox/2019-02-07-edcon-bondholders-trapped/

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My Office News Ⓒ 2017 - Designed by A Collective


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