South African retailer Edcon can be saved: administrators

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Administrators in charge of South African department store operator Edcon believe there is a reasonable prospect of saving the company after filing for a form of bankruptcy protection in April.

In a presentation to creditors dated May 18 and seen by Reuters, the administrators said Edcon has “valuable brands and market position that can possibly be preserved through business rescue.”

They will publish a business rescue plan on June 8.