South African retail group TFG to buy Jet assets from Edcon

JOHANNESBURG (Reuters) – The Foschini Group (TFG) is set to buy 371 stores and selected assets of Jet for 480 million rand ($28.7 million) from Edcon’s administrators, it said on Monday, allowing the South African retailer to expand into the budget apparel market. Edcon, which also owns 91-year-old department store chain Edgars, applied for bankruptcy […]

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