The high court in Johannesburg has granted Absa an order to seize control of the assets of automotive parts retailer AutoZone due to the company’s inability to settle its outstanding debts.
AutoZone owes Absa R302m which accumulated during a series of financial agreements and defaults that led...
AutoZone, which claims to be the largest privately owned automotive parts retailer and wholesaler in southern Africa, is in financial distress and has been placed in voluntary business rescue.
This follows a resolution taken by the AutoZone Holdings board of directors on 1 July 2024, with the...