Former Post Office CEO Mark Barnes comments on provisional liquidation

Jan

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