R1.3 billion on fixing riot damage at Pep, Ackermans, HiFi Corp, Tekkie Town

Jan

Who's the Boss?
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May 24, 2010
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6,253
Pepkor spends R1.3 billion fixing riot damage

Pepkor Holdings Ltd. is rapidly reopening stores after violent unrest in South Africa in July caused as much as 1.3 billion rand ($90 million) damage to about 550 shops, or 10% of its total.

The country’s biggest clothes retailer will have resumed trading in as many as 380 outlets by the end of September, Chief Executive Officer Leon Lourens said in an interview. By mid-November as many as 460 will have got back in business, he said.
 

CommonSense

Senior Member
Joined
Nov 20, 2012
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679
Should just closedown, make them suffer. Feel the pain and consequences of their actions.

That is not how capitalism works.
If you vacate a section of your market then a competitor will walk in and take it.

They have a duty to shareholders to start trading in those areas as quickly as possible again to retain their market share. And trading means profits for shareholders. Yay.

In any case, they spend no money, it is SASRIA money which is used for the repairs and I am sure some "upgrades" in the process. So a win for PEP actually.

New infrastructure is always a bonus (reliability and image).
 
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