It will be sad to see the exit of Edcon from the JSE through a major private equity deal. Investors did well out of a stock that soared under the shrewd stewardship of Steve Ross. It would be interesting to know what value the buyers think can still be extracted.
Edcon has said that interest rate increases before June this year "had a negligible effect" - but it's concerned about "the growing level of indebtedness" of SA consumers.
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