Does Edgars sale mean more retrenchments?

The move of one of South Africa's biggest retailers, Edgars Consolidated Stores, to sell its assets to US retail company Bain Capital, might lead to job cuts.

The move of one of South Africa's biggest retailers, Edgars Consolidated Stores, to sell its assets to US retail company Bain Capital, might lead to job cuts.

An analysis shows that the new owner is aiming at minimising costs. If Bain Capital is trying to achieve minimal costs, there have to be fewer staff so the whole process will show good results at the end of the financial year.

I suppose Edgars's Steve Ross and his board members did thorough research before selling the company and making this huge decision that could lead to more people facing retrenchment.

We hope the decision will not have a huge impact on South Africa's retail industry.

Matse Rapea, Pretoria

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