Investors wary as Choppies seals 74thebe exit from SA
Friday, December 06, 2019

Changing times: Choppies is existing the SA market
Kind Investments will take over the loss-making stores and has committed to investing an immediate ZAR100 million in the SA stores towards working capital and stock to take advantage of the Christmas-buying frenzy.
Under the deal, the buyer inherits claims against the SA stores and Choppies is released from guarantees it gave to creditors and suppliers for the SA stores. Choppies, however, has also committed to underwriting “negative equity value” in the deal up to R150 million and also covering a further R125 million in claims that the buyer could make for certain risks, which include a possible foreign exchange violation and certain “reportable irregularities”.
His take is that Members of Parliament (MPs) should be taking proactive steps to ask relevant Ministers questions outside Parliament and duly get their answers on the spot. That sounds great Mr President.But, considering that legislators serve the people, they will always find it suitable to raise questions in the August House fully knowing that their constituents are watching and listening. As a former MP yourself, Mr President, you know fully...