Superbalist confirms Section 189 process underway

Jan

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Takealot-owned Superbalist to cut staff

Superbalist has started the process to retrench workers after parent company Takealot posted a $ 22 million (R420-million) loss for its last financial year.

“Superbalist has embarked on a Section 189 process that will lead to the restructure of its business,” the company stated.
 
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How is Tal going to compete with other enterprises if they cannot post profits with no competition
 
How is Tal going to compete with other enterprises if they cannot post profits with no competition

It has nothing to do with competition. It is all about government control over the private sector.
 
With Amazon coming ...

Amazon, just like its US brethren Walmart, won't last here. They too will go belly-up. South Africa does not have the buying power to support a company of this magnitude. The country could not even have pushed a small business like Takealot into profitability.
 
Amazon, just like its US brethren Walmart, won't last here. They too will go belly-up. South Africa does not have the buying power to support a company of this magnitude. The country could not even have pushed a small business like Takealot into profitability.
It’s just incredible how much kuk you come up with.

Pity your family.

 
It’s just incredible how much kuk you come up with.

Pity your family.


Whatever you think happened may actually be totally wrong. Nonetheless, Massmart was one of Walmart's worst investment decisions, which later turned into one of their biggest costs / lessons / losses to fix, in order to get it delisted from the JSE and subsequently close down a number of stores and retrenching many. I have heard many birds sing abroad that Walmart may want to get rid of Makro and Builders, but it struggles to find a buyer. I suspect a lot more losses await while they still hang on to these businesses.
 
Whatever you think happened may actually be totally wrong. Nonetheless, Massmart was one of Walmart's worst investment decisions, which later turned into one of their biggest costs / lessons / losses to fix, in order to get it delisted from the JSE and subsequently close down a number of stores and retrenching many. I have heard many birds sing abroad that Walmart may want to get rid of Makro and Builders, but it struggles to find a buyer. I suspect a lot more losses await while they still hang on to these businesses.

Sure…building all those Walmart branded warehouses everywhere just for fun and games.

You are a special kind of delusional.

The only thing Walmart got wrong about Massmart was trying to convert it to “The American Way” like their same side tills because in the US they expect self service…whereas over here they have cashiers.

Much like Amazon their entire effort is South Africa being the gateway into Africa.

Cutting out Dion Wired was a solid logical move.
 
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Sure…building all those Walmart branded warehouses everywhere just for fun and games.

You are a special kind of delusional.

The only thing Walmart got wrong about Massmart was trying to convert it to “The American Way” like their same side tills because in the US they expect self service…whereas over here they have cashiers.

Much like Amazon their entire effort is South Africa being the gateway into Africa.

Cutting out Dion Wired was a solid logical move.

Well, let's wait and see....
 
It has nothing to do with competition. It is all about government control over the private sector.
Government would prefer competition and wider spread of black ownership, Naspers have a habit of creating monopolies, which one is winning in this little duel
 
Government would prefer competition and wider spread of black ownership, Naspers have a habit of creating monopolies, which one is winning in this little duel

Neither. Unfortunately for government, a lot of job losses to follow. More grants to be paid. Less tax income. In the long run, bigger problems for the fiscus, service delivery and even paying grants. Yes, Takealot may suffer here as well, but they do have the ability to take their business and money elsewhere and start new projects abroad instead.
 
I always wondered. Is it super-balist or superb-alist?
 
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