Edcon calls for calm amid news of possible collapse

JOHANNESBURG - Edcon Holdings is calling for calm as news of the company’s possible collapse stoke fears of mass job losses.

The owners of Edgars, CNA and Jet Stores, say they're close to announcing a deal to save the company.

READ: Edcon denies store closures

The retail giant has been struggling to restructure its business.

Under the deal, Edcon says it will only have to close its smaller stores and that this will be done responsibly.

But the South African Federation of Trade Unions wants the government to intervene.