Textile union horrified at Edcon funding situation

JOHANNESBURG - The Southern African Clothing and Textile Workers' Union says it's horrified thousands of jobs could be on the line at Edcon if the group's rescue funding crisis is not resolved.

The owner of Edgars, Jet and CNA, has been struggling financially.

READ: Edcon nears R3bn funding

Edcon is reportedly unable to pay its creditors, including landlords.

The company says it's in the process of restructuring but the union wants the Public Investment Corporation, which is the pension fund administrator, to step in immediately.

READ: Edcon denies store closures

SACTWU researcher, Etienne Vlok said, "we are extremely concerned because this will result in a jobs bloodbath, in Edcon, were to close."