Ster-Kinekor seeks extension to publish business rescue plan
Ster-Kinekor's business rescuers Stefan Smyth, a partner at EY South Africa, will not publish the Business Rescue Plan by end of May as initial stipulated.
Last year the business had to close down due to Covid-19 hard lockdown in South Africa.
Early this year Ster-Kinekor announced it is entering the voluntary business rescue.
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In a statement, Smyth says although business is picking up, sales are still below the pre-Covid-19 pandemic.
Smyth says he is sorting an extension to 31 July to hold further engagements in the business.
"Cash continues to be monitored closely by the BRP; sufficient liquidity is expected to continue to allow for the BRP to formulate a proposal and publish the BR Plan in the time frames as detailed herein," says Smyth.
