File: Edcon moves to allay fears of job losses, inching closer to a deal that will save thousands of jobs.
JOHANNESBURG - Edcon's CEO is rubbishing reports that the company is about to close stores.
Grant Pattison stated parts of the Sunday Times report claiming the business is shutting down stores are speculative, misleading and sensationalist.
In a tweet, Pattison said, "Edcon comments that parts of the Sunday Times article of 16 December 2018, and specifically its headline, are unfortunately speculative, misleading and sensationalist."
"Edcon has not ‘crashed’.The Group had a great sales day yesterday (15 December 2018) with sales up on last year."
He asserted the group is very close to announcing a complete recapitalisation of the business.
Edcon owns Edgars, CNA and Jet, among others.