Clothing retailing group Edcon Holdings set to sell part of its chain group Edgars to a regional rival

SOUTH AFRICA – Edcon Holdings Ltd., a clothing, footwear and textiles (CFT) retailing group, is set to sell part of South African clothing chain Edgars to a private equity-backed regional rival, potentially safeguarding a 91-year-old brand and saving thousands of jobs. Administrators led by Lance Schapiro and Piers Marsden struck a deal with Retailability Pty Ltd., a holding company for brands Legit, Beaver Canoe and Style, which owns 460 stores across southern Africa. “This is a good outcome for Edgars — if the deal goes through — because they might…

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