{"id":407279,"date":"2020-06-12T11:31:32","date_gmt":"2020-06-12T09:31:32","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=407279"},"modified":"2020-06-12T11:31:32","modified_gmt":"2020-06-12T09:31:32","slug":"edgars-creditors-include-goldman-standard-bank-and-absa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/407279\/edgars-creditors-include-goldman-standard-bank-and-absa\/","title":{"rendered":"Edgars creditors include Goldman, Standard Bank and Absa"},"content":{"rendered":"

Goldman Sachs Group Inc and hedge fund Apollo Global Asset Management Inc are among secured creditors with claims of R3.73 billion ($218 million) against Edcon Holdings Ltd, the failed South African retailer.<\/p>\n

Administrators of the Johannesburg-based company are seeking buyers for Edcon chains Edgars and Jet as well as its loyalty program, Thank U.<\/p>\n

The 91-year-old retailer collapsed after a nationwide lockdown to curb the spread of coronavirus halted almost all business.<\/p>\n

That caused the already struggling company to burn through cash, resulting in it being placed in a local form of bankruptcy protection at the end of April.<\/p>\n

The company\u2019s failure comes more than a year after lenders and landlords agreed to a restructuring of Edcon\u2019s debt in the wake of a leveraged buyout by Bain Capital Private Equity LP in 2007 that turned sour.<\/p>\n

AlbaCore Capital LLP, a firm focusing on credit and private debt, is also among creditors on a list published by Edcon\u2019s business-rescue practitioners on June 8.<\/p>\n

Here is a list of the biggest creditors:<\/p>\n

\"\"<\/a><\/p>\n

\n

Read: Edgars looking for buyers to help keep it open<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Goldman Sachs Group Inc and hedge fund Apollo Global Asset Management Inc are among secured creditors with claims of R3.73 billion ($218 million) against Edcon Holdings Ltd, the failed South African retailer.<\/p>\n","protected":false},"author":59,"featured_media":278795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[13614,14880,26],"class_list":["post-407279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-edcon-holdings","tag-goldman-sachs-group","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/407279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=407279"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/407279\/revisions"}],"predecessor-version":[{"id":407287,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/407279\/revisions\/407287"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/278795"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=407279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=407279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=407279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}