Ackerman family to relinquish control of struggling Pick n Pay

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The announcement comes after another disappointing set of results, in which the group reported a massive decline in its trading profit

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Pick n Pay founding family, the Ackermans, will forgo their majority shareholding in the grocery retailer.

The Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member.Tongaat Hulett can only exit business rescue once the approved plan is largely implemented or the company is no longer financially distressedOur commitment at the Mail & Guardian is to ensure every reader enjoys the finest experience.

A labour appeals court order reinstated the employees to their posts after they were outsourced to WNS eight years agoInflation is now expected to return to the Reserve Bank’s midpoint target at the end of 2025, later than previously forecastThe Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member.

 

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