Dear Zimbabwe: Contrary to reports flying around, the closure of Edgars and other South African fashion stores in Zimbabwe has nothing to do with the economic situation. This is the full story behind Edcon South Africa which owns most of these shops. The troubled clothing..

...retailer, Edcon South Africa early 2019 confirmed that it was talking to possible new investors in efforts to ensure its survival. Edcon South Africa owns various retail brands, including Edgars, Jet, CNA and Edgars Active and in South Africa alone employs approximately...

...14 000 permanent staff members and a further 25 000 temporary workers at around 1 350 stores. South African media has reported that Edcon is drowning in debt of R7 billion as it struggles to maintain its relevance in a clothing retail market infiltrated by local...

...informal traders. The Sunday Times, reported Edcon was close to liquidation & had asked landlords for help to reduce its rent in order for it to survive. Edcon’s statement confirmed it was talking to its landlords & added that it was looking to outside investors. ENDS**