TFG’s bid for Edcon’s Jet stores is astute move in cash-strapped SA 🔒
Fashion retailer TFG, which announced its intentions to acquire Edcon-owned Jet stores, is a stellar move for the group that also saves an imperative clothing brand in SA’s structurally too expensive apparel market.
The owner of Foschini, Markham and Donna clothing retailers said on Monday it submitted an offer to the business rescue practitioners of Edcon, whose financial stresses began to be compounded in 2020 by the coronavirus.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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TFG in R480m deal to acquire JetGroup buys minimum of 371 commercially viable stores and will also take on executives and staff
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Foschini Group to buy some Jet assets from Edcon for R480mThe Foschini Group said on Monday it is set to buy some stores and selected assets of JET for R480m from Edcon's administrators, allowing the South African retailer to expand into the apparel market
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The Foschini Group to buy some JET assets from EdconThe Foschini Group said on Monday it is set to buy some stores and selected assets of JET for R480 million ($28.69 million) from Edcon's administrators, allowing the South African retailer to expand into the apparel market.
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TFG in R480bn deal to buy Edcon's JetTFG reported on Monday it had submitted a conditional offer to acquire a minimum of 371 commercially viable Jet stores from Edcon for R480 million.
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TFG in R480m deal to acquire JetGroup buys minimum of 371 commercially viable stores and will also take on executives and staff
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Foschini Group makes R480m offer to buy Edcon’s ‘viable’ JET storesEdcon, which owns Edgars and JET Stores, announced in late April that it would file for voluntary business rescue.
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