Turnaround Management Association of Southern Africa

29/03/2022

“Turnaround strategies need to evolve,” Chris Considine, a director in the retail practice at AlixPartners, said. “They need to really think about what demand is coming at them in the future, how that might be suppressed by economic issues and adjust to focus on things like pricing strategy… and how much they procure in the coming quarters as we recalibrate the new levels of demand.”

The supply chain crisis has been a thorn on the side of retailers who’ve been attempting to implement turnaround strategies.

24/03/2022

African Bank turnaround - The central bank also noted that the period leading up to the IPO will provide African Bank’s management with the opportunity to continue with its turnaround strategy.

A few buyers showed interest in African Bank, but the Reserve Bank found them unsuitable.

22/03/2022

Five years ago, Target announced a turnaround strategy that ran counter to received retail sector wisdom. If anyone had any doubts about how well Target has executed on that omni-channel vision, the fact that the firm has just passed $106 billion in revenues for 2021 should quash them.

Target CEO Brain Cornell executed on a plan that retail analysts frowned upon - and he was right!

17/03/2022

Wellness group Ascendis Health has been making a recovery from crippling debt, but the threat of business rescue still hangs over its head. They have managed to cut its debt down from R6.7 billion on 30 June 2021 to R582 million at the end of December 2021 through a recapitalisation plan, which included disposals of its medical and pharmaceutical divisions, as well as skincare brand Nimue.

Ascendis has managed to cut it debt down from R6.7 billion on 30 June 2021 to R582 million at the end of December 2021 through a recapitalisation plan.

15/03/2022

NEWS FROM AUSTRALIA | Crowd Media's solid results for the half are testament to its successful turnaround strategy. Crowd Media's CEO, Idan Schmorak, said: "Following our quarterly report, this half-year report is another milestone that represents the fresh wind in Crowd's journey." https://www.abnnewswire.net/press/en/109576/Crowd-Media-Holdings-Limited-(ASX-CM8)-Completes-Turnaround-Phase-Delivers-EBITDA-Profit-and-Positive-Cashflow.html

10/03/2022

Woolies to cut even more space as clothing turnaround drags on. It is highly likely that more than 20% of trading space will be slashed by 2023.

Highly likely that more than 20% of trading space will be slashed by next year …

08/03/2022

The Department of Public Enterprises has told Parliament’s that firm financial support could see Denel avert the risk of getting liquidated or placed under business rescue.

03/03/2022

Ster-Kinekor Theatres has received an offer from Blantyre Capital and Greenpoint Capital for a R250 million senior secured debt facility. The facility will fund future operations, facilitate the exit of business rescue and refinance the existing capital structure, the group’s business rescue practitioner said on Tuesday (1 March).

Ster-Kinekor Theatres has received an offer from Blantyre Capital and Greenpoint Capital for a R250 million senior secured debt facility.

01/03/2022

Concerns over Bedfordview’s Bishop Bavin’s back-door sale as school is in R36 million of debt.

The Anglican Church of Southern Africa denied any plans to sell the land.

24/02/2022

SA Post Office (Sapo) Tuesday defended its vision of a turnaround of the troubled state-owned entity (SOE) as the Communications Workers’ Union (CWU) announced plans to take the cash-strapped entity to court in March due to non-payment of medical aid and pension fund contributions.

SA Post Office (Sapo) yesterday defended its vision of a turnaround of the troubled state-owned entity (SOE) as the Communications Workers’ Union (CWU) announced plans to take the cash-strapped entity to court in March due to non-payment of medical aid and pension fund contributions.

22/02/2022

Massmart, the owner of Makro and Game, has flagged a more than R2-billion loss for its 2021 year. The loss throws a spanner in the works for the retailer's turnaround strategy.

Massmart, the owner of Makro and Game, has flagged a more than R2-billion loss for its 2021 year.

17/02/2022

Read Milly Camley's, CEO of the Institute for Turnaround UK, opinion on her view for UK turnaround in 2022.

Opinion By Milly Camley During the pandemic, even businesses that were in good health found themselves unexpectedly vulnerable to disruptive external