Why Edcon is still battling to survive

Having secured a 2.7 billion rand capitalisation plan in March 2019 in which lenders, including the PIC, freed it of all interest-bearing debt in exchange for shareholdings. Edcon, the owner of Jet and Edgars, is battling for survival and reports of continued stress are borne out by ongoing store closures, which seem inevitable given the absence of any indication it is able to retain old customers or even attract new ones. Business Day TV sat down with Edcon CEO, Grant Pattison for an update on the current state of the company and how it plans to bounce back in a rapidly changing trading environment..