Edcon possible liquidation a “national disaster”: Saftu

The South African Federation of Trade Unions (Saftu) has called the possibility of retail giant, Edcon, being liquidated a “national disaster”.

About 40 000 permanent jobs and 100 000 indirect ones will be on the line if a proposed rescue deal doesn’t work out.

Edcon – which owns Edgars, CNA and Jet – has approached shopping mall owners and government for aid in the form of rental discounts and investments.

The company has been operating in the country for almost 90 years.

Saftu’s acting national spokesperson, Patrick Craven says the job losses will have an impact on the country.

“It would make all the other pending job losses fade into insignificance and will have a huge effect on not just the individual, obviously, but on the economy as a whole. We believe that urgent action must be taken by the government. We cannot rely on the owners of the shopping malls or other business organisations to step in.”