The retailer said it will be negotiating to partake in rental relief packages offered by the Property Industry Group
18 May 2020 - 18:59Makro owner Massmart says it expects to post a headline loss of up to R1.226bn amid tough trading conditions and higher costs. Picture: SOWETAN/ANTONIO MUCHAVE
The retailer has joined a slew of SA retailers looking for rental relief as they become financially squeezed as a result of the virus. Massmart said it would be tapping the Property Industry Group for relief. At the start of the lockdown on March 27, retailers of nonessential goods were not allowed to trade, including Massmart’s brands such as Builders Warehouse. When they were authorised to do so later in April, this was with strict limitations.
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