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Real Economy News in Real Time
R/€ = 19.16 Change: 0.05
R/$ = 17.57 Change: 0.06
Au 1730.62 $/oz Change: -3.52
Pt 830.25 $/oz Change: 4.70
 
 
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Massmart mulls closure of up to 34 stores

13th January 2020 BY: Simone Liedtke
Writer

Retail company Massmart on Monday revealed that it was considering closing up to 34 Dion-Wired and Masscash stores.

The group recently conducted a store optimisation project that identified a number of underperforming stores in its portfolio.

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Massmart has started a consultation process with organised labour and other relevant stakeholders in terms of Section 189 and Section 189A of the Labour Relations Act, regarding the possible closure of the 34 stores and the possible retrenchment of about 1 440 employees. 

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EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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