‘Edcon working on a turnaround strategy’

Edgars shop
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The CEO of retail giant, Edcon, has assured its workers that their jobs are safe. Grant Pattison says the group, which owns Edgars, Jet and CNA is in the process of finalising a deal that will be announced soon.

He’s admitted that the company has been experiencing financial problems for several years, but rejects a Sunday Times report that the group is on the brink of collapse. The newspaper said Edcon’s stores were about to close, leaving around 140 000 workers without jobs.

Pattison has appealed to the company’s employees not to panic

“My message would be firstly to thank them for the long hours and hard work over this Christmas period and let them know don’t worry about speculation in the newspapers. When there’s something about the company that they need to know, I’ll communicate it to them directly. And for the moment we’re close to finalising a deal that should ensure the future of the company.”

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