The owner of Game and Makro, Massmart, says it’s selling 15 of its 114 Game stores to stay afloat in South Africa. The group said the July unrest dented the already struggling company’s profits.
Massmart says the looting directly affected 43 of its stores, including Game and Makro. In total, the looting cost Massmart R2,5-billion.
It says about R650-million will not be recoverable from insurers. Massmart expects to have lost 20 percent revenue this year.
In other news – WATCH – Cassper Nyovest’s final preparation for tonight’s boxing match against Slik Talk
Rapper Cassper Nyovest is preparing for his fight with YouTuber Slik Talk, to take place tonight, 22 December.
The Siyathandana rapper posted a video of himself training, saying he was going to knock Slik out. The boxing match will be broadcast on YouTube at 9pm. Learn more