Down to the wire at Choppies, as cash crisis builds

Shoppers at Choppies.
Shoppers at Choppies.

On September 4, suspended CEO and major shareholder, Ramachandran Ottapathu faces off against Choppies’ non-executive directors in a secret ballot that will decide the retail giant’s future. The shareholders, whose votes are much-sought after currency in the fight, are under added pressure as the regional grocer is apparently suffering from ‘serious cash flow’ issues. Staff Writers, MBONGENI MGUNI and MPHO MOKWAPE report

Apart from a handful of insiders, no one has details on Choppies’ financial situation. The pan-African grocer’s books have been unopened for scrutiny since last year when the group posted its results for the half year ended December 2017.

Since that day, July 13, 2018, the group’s shareholders have been in the dark on the value of their investments, as Choppies has repeatedly failed to produce audited results.

Editor's Comment
Justice served, but healing must follow

His horrific actions, betraying the trust placed in him to protect children have rightly been met with the full force of the law. Whilst we commend the court’s decision, this case forces us to confront uncomfortable truths about safeguarding our children and the lifelong scars such abuse leaves.Magistrate Kefilwe Resheng’s firm sentencing sends a powerful message that those who harm children will face severe consequences. Her words rightly...

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