Ellerines� acquisition to save 230 jobs

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Competition Authority (CA) has approved the proposed acquisition of troubled Ellerines Furnishers by Lewis Stores, in a move that is set to save about 230 jobs in Botswana.

Through the acquisition, Lewis will acquire 62 Ellerines Retail and Furnishers stores in Southern Africa for a purchase price of approximately R250 million (P175 million). This includes 25 stores in Botswana under the Ellerines and Beares brand, 21 in Namibia, 10 in Lesotho and six in Swaziland.

 Ellerines, which is the furniture retail subsidiary of failed South African lender African Bank Investments Limited (Abil), went into bankruptcy last year after running losses of R70 million (P50 million) per month since 2013.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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