It came too late to be reflected in this year's assessment, but African Bank's takeover of Ellerines has changed the rules of the furniture retail game. The company, headed by Leon Kirkinis, is separating the credit and retail sides into two distinct arms - the first being the combined credit businesses and the second consisting only of Ellerines' 1 200 retail stores. Recently there was a surprise write-down of income because of Ellerines' upfront accounting, but the damage is mostly technical.
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