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South Africa’s Shoprite Purchases Ellerines, Wetherlys

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Ellerines, Wetherlys now has a new owner; that is after the Competition Commission has approved Shoprite Checkers’ proposed acquisition of Wetherlys from Ellerines.

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The commission recommended to the tribunal that the acquisition of 217 leases, including the business of home furniture store, Wetherlys from Ellerines by Shoprite, be approved with conditions.

The acquisition stems from the fact that furniture retailer, Ellerines has undergone business rescue proceedings.

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The practitioners believe that the sale of Ellerines’ assets, brands or divisions may yield a better outcome for the company than an immediate liquidation.

The commission also imposed the condition that the remaining 308 employees of Ellerines may not be retrenched post-merger.

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Caroline Vutagwa
Caroline Vutagwahttps://my.techmoran.com
Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

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