Massmart to sell more Masscash stores

File: Massmart, the owner of Game and Makro. Wikimedia Commons

JOHANNESBURG - Retail giant Massmart -- which owns Game, Makro and Builders Warehouse -- plans to sell an additional 14 of its Masscash stores.

This as it grapples with COVID-19 sales losses.

READ: Massmart posts major losses

The group says it lost R6-billion in sales last year due to COVID-19 restrictions.

This comes despite rent relief from landlords and the government's Temporary Employment Relief Scheme.

Last year, Massmart announced the closure of 34 DionWired and 11 Masscash stores as part of its turnaround strategy.

READ: Massmart loses billions due to alcohol ban

Massmart said earlier it had managed to sell eight Masscash stores, which will save 640 jobs.

The 14 additional stores are over and above that sale.

Source
eNCA

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