Former Post Office CEO Mark Barnes comments on provisional liquidation

[Jan]

Post Office faces liquidation with billions owed

The South African Post Office (Sapo) is in provisional liquidation, even though the state-owned entity's former CEO, Mark Barnes, says it has been bankrupt for 18 months already.

Sapo owes billions of rands to its creditors, and Business Day reports the Pretoria High Court placed it under provisional liquidation following a successful court application by a creditor owed money for rent.

 

[Solver]

I'm sure all it needs is more money to fix the purely technical issues

 

[r00igev@@r]

But why not sell it rather to the Gupta's for a pot of curry?

 

[Wayne2k]

With sassa cards expiring and post office the place to get a replacement, can just feel a headache coming on now, post office closed down plus load shedding not helping.

 

[Gaz{M}]

Oh no, where will we all queue for our licence discs?

 

[Alexander the Straight]

Another one bites the dust...

 

[Zarathustra]

Oh no, who will deliver those E-Toll accounts?

 

[B-1]

Mmm good thing that Aliexpress shipment I made a little while ago has insurance.
Thought I would tata ma chance it but the odds are not looking in my favour.

 

[Jet-Fighter7700]

Oh no, who will deliver those E-Toll accounts?

they will hire Millions of guys to pester you at home delivering Etoll invoices.
manpower is never in short supply at Sanral.

 

[TelkomUseless]

Why is Former Post Office CEO still yapping about Post office? It's 4 years later dude.. government put you on ignore.... they don't care about anything..

 

[Jet-Fighter7700]

they don't care about anything..

except Whiskey/BMW's and Jobs for pals.

 

[Tman*]

I'm sure all it needs is more money to fix the purely technical issues

Only 2 things can save SAPO

1. Name change
2. Giving them the exclusive rights to deliver parcels under 1kg.

 

[r00igev@@r]

Mmm good thing that Aliexpress shipment I made a little while ago has insurance.
Thought I would tata ma chance it but the odds are not looking in my favour.

The post office workers thank you for contributing to their farewell gifts...

 

[deweyzeph]

There is nothing the Post Office does or sells that can't be obtained through the private sector.

 

[wingnut771]

There is nothing the Post Office does or sells that can't be obtained through the private sector.

Except stick a postage stamp on an envelope and drop it into a post box.

 

[deweyzeph]

Except stick a postage stamp on an envelope and drop it into a post box.

Why would anyone want to do that in the 21st century?

 

[Sworaxe]

kek

 

[ToxicBunny]

How much do we want to bet that government will miraculously find R4.4bn to settle the debts to get this liquidation order cancelled?

 

[My_King]

Why would anyone want to do that in the 21st century?

Convenience.

Aramex still does it:

Find our Store-to-Door service at selected Pick n Pay, FreshStop and Checkers stores. Your Leading Global Provider Of Comprehensive Logistics And Transportation Solutions. We'll Collect and Deliver. Drop Into a Box. Buy A Sleeve. Follow The Instructions.

 

[My_King]

How much do we want to bet that government will miraculously find R4.4bn to settle the debts to get this liquidation order cancelled?

I think the breaking point is reachable soon.

Maybe this is the last time, but maybe this time they can't reach the R4.4bn.