Pick n Pay, Ster-Kinekor unprofitable for Redefine

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Pick n Pay, Ster-Kinekor unprofitable for Redefine
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The property group says it is reducing space it lets to underperforming tenants

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Redefine currently leases 73 116 square metres to Pick n Pay. , among others, says it is reducing space in these two companies because it is not profitable.

“Part of the agreement with Pick n Pay is that in the remaining stores, they need to upgrade those stores so that the offering now becomes competitive,” Chotoki said. “There is no purpose in living in the rear-view mirror. We must only look backwards to understand what went wrong and to make sure that we don’t repeat the mistakes of the past,” chairperson Gareth Ackerman said in a statement.

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