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.