Massmart Holdings Ltd

Edgars store owner running out of steam

Edcon, which had already been under a financial strain, revealed that the coronavirus has had a negative impact on the company and it would lose close to a billion rand during the 21-day lockdown period.

The Foschini Group to skip Rental Payments amid SA lockdown

As South Africa goes into a 21-day nation-wide lockdown, The Foschini Group [JSE: TFG] – whose brands include Foschini Stores, @home, Markham, Totalsports and Sterns – said it’s stopping rental payments because of the impact of the coronavirus outbreak.

Domino’s Pizza comes to a grinding halt

Taste Holdings [JSE:TAS], former owner of Starbucks, announced that it will voluntarily liquidate Domino's Pizza, following its failure to find a buyer for the pizza chain.

End of the road for Massmart’s Dion Wired stores

Although yet to recover from Edcon’s woes, Retail landlords are set to face even more intense pressure as Walmart-owned Massmart announced the closure of 23 DionWired stores as from today.

Massmart forecasts up to R1.4bn loss for the year

Massmart, which owns brands such as Dion-Wired, Makro and Game Stores, is forecasting another big loss of over R1.2 billion as it battled tough trading conditions in the second half.

Empty Retail space takes a toll as Massmart plans to close 34 DionWired and Masscash

Retailer Massmart, which is 51% owned by US giant Walmart, has announced plans of closing 23 Dion-Wired stores and 11 Masscash wholesale outlets, a move that lead to the loss of up to 1,440 jobs.

Retail developers encouraged by Africa’s project yields

Increasingly, retail developers are eyeing Africa's rapidly growing consumer markets as the scope for investment is steadily cumulative and demand for more formal retail options from shoppers is following suit.

R20m Builders Warehouse opens in Botswana

Massmart’s Massbuild division invested R20.5 million in a new 5‚150m² Builders Warehouse‚ located in Somerset West‚ Francistown‚ in Botswana.

Nedbank commits funding and acquires stake in new Makro Alberton development

A ground breaking multimillion rand venture known as the Newmarket Park Development is set to change the Alberton CBD with the belief that it will bring even more development to this growing area.

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