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: : Jan-Jun 2003

Skonkwane's funds mystery unravelled. Storm clouds are gathering over DNA Skonkwane, with new evidence showing that millions of rands meant to pay suppliers of building supplies for SA franchisees were instead channelled into an account held by Skonkwane Holdings at Swazibank. .... [more] 30 Jun, 2003
Pick 'n Pay counts cost of extortion bid. The sensational letter from Pick 'n Pay's chief executive, Sean Summers, to consumers that the retailer had been held to ransom for the past seven weeks would have significant costs for the company, Summers said last night. .... [more] 30 Jun, 2003
Phosa's law firm adds to franchisees' anger. As allegations of missing millions dog the collapse of Mathews Phosa's building franchise, DNA Skonkwane, out-of-pocket franchisees are outraged that they are being summoned for debt by Phosa's own Nelspruit based law firm. .... [more] 24 Jun, 2003
New franchises head for PGP. Patrick Maingard, formerly regional manager for the Pam Golding Property group's Western Cape region, has been appointed MD of Pam Golding Franchise Services. .... [more] 23 Jun, 2003
Metcash likely to get nod on Seven Eleven. Metro Cash and Carry was expected to receive approval from the competition authorities for its proposed acquisition of retail franchise group Seven Eleven because its competitors were considerably larger and because Seven Eleven was a failing firm. .... [more] 23 Jun, 2003
Skonkwane 'used franchisees as cash cows'. A senior liquidator of Skonkwane Holdings has come out in support of franchisees, who claim the company intercepted and withdrew their funds without their authority. .... [more] 22 Jun, 2003
Liquidation orders against 7-Eleven annulled. Protracted negotiations throughout yesterday between convenience store chain 7-Eleven Corporation's creditors and liquidators, about security for the liquidators' R6,75m bill, ended in the discharge of the provisional liquidation orders against 7-Eleven Corporation and 7-Eleven Africa. .... [more] 20 Jun, 2003
Jigsaw in pieces as earnings drop R16m. Ailing property specialist Jigsaw reported a sharp drop in earnings yesterday courtesy of what was a "disappointing and traumatic" trading period. .... [more] 18 Jun, 2003
Pick 'n Pay reports strong real growth. Trading within Pick 'n Pay Stores had shown continued strong real growth in the first quarter of the current financial year and management was positive about the future, CEO Sean Summers told the group's annual meeting on Friday. .... [more] 17 Jun, 2003
New Clicks' finance head resigns. New Clicks Holdings said on Tuesday that Peter Green, an executive director and head of group finance, had resigned from the group with immediate effect. .... [more] 17 Jun, 2003
Too early to count cost of Steers blaze. It was too early to determine the value of the damage caused by the fire at Steers Holdings' Midrand warehouse, Kevin Hedderwick, the chief operating officer of franchising, said yesterday. .... [more] 13 Jun, 2003
Steers back on the grill. Fast-food franchise group Steers said on Thursday that it had met its commitment to stakeholders that it would be fully operational within 24 hours following a fire at its warehouse in Midrand on Wednesday morning. .... [more] 12 Jun, 2003
Small businesses boost jobs 58%, research shows. SA business owners have reported a 58% increase in employment in the past year, the highest of all countries participating in an international survey conducted recently by professional services firm Grant Thornton Kessel Feinstein. .... [more] 10 Jun, 2003
Midas foresees benefits in empowerment deal. Replacement automotive parts group Midas, which delisted after a R130m management buy-out deal last year, was on the verge of announcing a 30% to 35% empowerment deal, CE Gordon Odgers said yesterday. .... [more] 5 Jun, 2003
Metcash is bullish about grocery growth prospects. Even if its proposed takeover of the 7-Eleven convenience store chain failed, there was still room for considerable growth in the grocery-distribution business, Metro Cash & Carry (Metcash) CEO Carlos dos Santos said yesterday. .... [more] 5 Jun, 2003
Juicy Lucy, Milky Lane now owned by Unilever. Unilever has acquired the Milky Lane and Juicy Lucy brands from Pleasure Foods under its Ola Ice Cream subsidiary for an undisclosed sum. The move expands the fast-moving consumer goods multinational into the franchising arena. .... [more] 4 Jun, 2003
Pick 'n Pay to keep its holding structure. Pick 'n Pay, the food, clothing and general merchandise retailer, would in the future maintain its holding (or pyramid) structure through Pick 'n Pay Holdings (Pikwik), group finance director Dennis Cope confirmed on Friday. .... [more] 2 Jun, 2003
CMH looks again at offshore purchase. Motor franchise group Combined Motor Holdings (CMH) is considering an offshore acquisition and is expected to make an announcement on its decision in the weeks ahead. .... [more] 30 May, 2003
Swedish-SA fund plans to finance up to 40 more small businesses. The Swedish-SA Business Partnership Fund plans to finance between 25 and 40 small and medium enterprises between now and the end of next year. .... [more] 27 May, 2003
Australian profit leads Metcash SA. Metcash Trading, Metro Cash & Carry's Australian listed subsidiary, again showed itself to be the group's leader, reporting a sharp jump in earnings in its latest results. .... [more] 23 May, 2003
Mixed fortunes for listed franchise groups. Two of the JSE Securities Exchange SA's listed consumer franchise groups are showing resilient share price performance, one is lagging badly and two more have decided to exit the exchange because they are not attracting enough investor interest. .... [more] 22 May, 2003

Shoprite loses on strong rand. The share price of supermarket chain Shoprite Holdings has taken a beating in the past six months compared to its major listed rival, Pick 'n Pay, owing to fears that the value of Shoprite's African operations is vulnerable to the rand's recent appreciation. .... [more] 21 May, 2003
Conversion to cost Clicks R100m. New Clicks Holdings plans to spend around R100m over the next three to four years in converting stores to accommodate pharmacy dispensaries, group leader Trevor Honneysett disclosed on Friday. .... [more] 16 May, 2003
Steers share price rockets 20% after strong finals. The share price of listed fast food franchising group Steers Holdings has rocked by over 20% in morning trade on Wednesday following its announcement of a strong and better-than-expected set of final results for the year to end-February 2003. .... [more] 15 May, 2003
Metcash buys 7-Eleven franchises. Metro Cash and Carry (Metcash) has boosted its critical mass in the competitive food franchise business by buying all the franchise interests in the provisionally liquidated 7-Eleven convenience store chain. .... [more] 12 May, 2003
Retailers in two minds about pharmacy field. Convenient locations and quality of service are likely to determine success in the increasingly competitive environment of pharmaceutical retailing in the next few years, after last week's changes to the Pharmacy Act allowing non-pharmacists to own pharmacies. .... [more] 9 May, 2003
SA's Nandos gets its wings. South African fast-food chicken outlet chain, Nandos, has got its wings thanks to British Airways. .... [more] 8 May, 2003
Fund for a new generation of entrepreneurs. A new investment fund aimed at enabling and empowering South Africa's young entrepreneurs, particularly those from previously-disadvantaged communities, was launched in Cape Town yesterday. .... [more] 30 Apr, 2003
Licensing raises prices of used PCs. The cost of used computers is poised to rise as a clampdown on software piracy forces second-hand stores, such as Cash Converters, to clean up and legalise the old computers they sell. .... [more] 24 Apr, 2003
Steers aims to put the sizzle in coffee culture. Steers Holdings, the fast-food takeaway chain, is tapping into the growing global craze for coffee with the acquisition of Creative Coffee Franchise Systems. .... [more] 22 Apr, 2003
Who is bidding for 7-Eleven? A buyer for the 7-Eleven stores affected by the provisional liquidation of their controlling company, 7-Eleven Corporation, may come to the fore by the end of the week. .... [more] 22 Apr, 2003
Appointment of nine liquidators for 7-Eleven raises eyebrows. Incredulity greeted the news yesterday that nine provisional liquidators had been appointed following the liquidation of 7-Eleven Corporation South Africa and 7-Eleven Africa. The two companies control 90 convenience stores and 205 franchises. .... [more] 16 Apr, 2003
Pick 'n Pay hits the expansion trail. Food and grocery retail giant Pick 'n Pay Stores will open more new stores in the current financial year than in any previous year in its history, it says. .... [more] 16 Apr, 2003
Avis-Brac deal gets go-ahead. South Africa's Competition Commission has unconditionally approved the merger between Avis Europe and Budget Rent-A-Car International, the Commission said in a statement on Monday. .... [more] 14 Apr, 2003
Clicks awaits pharmacy law change. Health, home and beauty retailer New Clicks Holdings was poised to embark on a growth strategy if the expected changes to legislation to allow nonpharmacists to own pharmacies were passed, it said on Friday. .... [more] 14 Apr, 2003
Lew Geffen expands nationally. Lew Geffen, a Johannesburg-based estate agency, is launching national franchises to compete with leading estate agents. .... [more] 9 Apr, 2003
Law change will be tonic for NuClicks. Half-year results due out on Friday by multibrand retailer New Clicks Holdings (NuClicks) could be overshadowed by a long-expected announcement on changes to pharmaceutical legislation, which will have a direct impact on the group. .... [more] 9 Apr, 2003
7-Eleven plans to beat liquidator's order. Convenience store franchise chain 7-Eleven Corporation would make strenuous efforts to resolve last week's provisional liquidation, whether it involved trading out of its present difficulties, a new injection of cash or a scheme of arrangement with creditors. .... [more] 8 Apr, 2003
Seven-Eleven under liquidation. The Seven-Eleven Corporation as well as Seven-Eleven Africa were placed under provisional liquidation, following an urgent application launched in the Cape High Court by the corporation's chief executive, George Hadjidakis. .... [more] 6 Apr, 2003
Black funeral group launches franchise. SA's first wholly owned black franchise in the funeral and burial industry SA Funeral Homes was launched yesterday with the assistance of Franchize Directions. .... [more] 4 Apr, 2003
Spec Tiles invited into Botswana. Spec Tiles had received requests to franchise its business into Botswana, the specialist supplier of ceramic and porcelain tiles said yesterday. .... [more] 31 Mar, 2003
Chicken franchisees are crowing all the way to the bank. Survey shows Kentucky Fried Chicken, Chicken Licken and Nando's rule the roost when it comes to takeaway sales. .... [more] 24 Mar, 2003
Receipts in franchise deal are of a revenue nature. The Cape Tax Court recently had to determine whether monies a firm received in terms of a franchise agreement were of a capital or revenue nature. .... [more] 24 Mar, 2003
Minorities agree to clear path for Nando's delisting. Opposition from disgruntled minority shareholders to the 70c a share buy-out offer from the Nando's Group Holdings controlling consortium petered out when 96,6% of voters accepted the tabled offer at a shareholders meeting yesterday. .... [more] 20 Mar, 2003
Pick 'n Pay challenges producers on expensive food prices. Pick 'n Pay has challenged food producers to ensure that the stronger currency brings about lower prices. .... [more] 13 Mar, 2003
Franchising an underrated empowerment tool. Franchising was the most underrated tool to propel previously disadvantaged people into the mainstream economy, Gerrie van Biljon, the executive director and regional general manager of Business Partners, said yesterday. .... [more] 5 Mar, 2003
Working families' spur growth at restaurant chain. Spur Corporation, the steak and pizza/pasta franchise restaurant chain, gained market share in the six months to December as it maintained marketing and training spending and continued to tailor its offering for the "working family" lifestyle that has developed in SA in the last few years. .... [more] 4 Mar, 2003
Truworths is keeping its eyes peeled for growth opportunities. Clothing retailer Truworths International is continuing to evaluate overseas opportunities, develop new formats and search for acquisitions, but it is determined that its expansion must be manageable while fitting in with the group's existing businesses. .... [more] 28 Feb, 2003
Nando's serves long-awaited offer to tempt its minority shareholders. Fast-food chicken franchise Nando's Group Holdings issued its long-awaited offer to minorities last week following more than five months of speculation on the price and the outcome. .... [more] 27 Feb, 2003
Shoprite withstands rising food inflation. Despite big swings in the retail market due to high food inflation, which made trading tough, Shoprite Holdings' performance in South Africa in the six months to December was up to scratch, executives said this week. .... [more] 21 Feb, 2003
Shoprite may list furniture business. Supermarket and furniture retailer Shoprite Holdings is considering a separate listing for its furniture division to separate its nonstrategic businesses from Shoprite's core food business. .... [more] 18 Feb, 2003
RELATED - Small businesses finally get a voice. After five years of anonymity, small business would be given a voice, the chief director of enterprise development at the department of trade and industry, Wawa Damane, said this week. .... [more] 14 Feb, 2003
7-Eleven cases clog court roll. Applications involving the 7-Eleven Corporation accounted for more than half of the 32 applications on the Cape High Court roll yesterday. .... [more] 12 Feb, 2003
Sweets from Heaven set to delist. The lengthening roll of delistings from the JSE Securities Exchange SA in the past year is about to swell further if Sweets from Heaven implements the warning in yesterday's cautionary notice that it is considering alternatives for the delisting of the company's shares. .... [more] 12 Feb, 2003
Educor closes all branches of Academy of Learning. Educor, owners of Academy of Learning, the adult education institute that teaches computer, bookkeeping and secretarial skills, has closed the academy with immediate effect. .... [more] 11 Feb, 2003
KFC drums up a finger lickin' good profit. Forget your boerewors and pap - the big money-spinner in the food stakes in this part of the world is now fried chicken with a coating created by a jolly colonel in the deep south of the US. .... [more] 7 Feb, 2003
Italtile thrives on move to a franchise format. Ceramic tile retailer Italtile says the restructuring of the group into a franchise format and the move into sanitaryware is behind the 36% rise in sales to R725m for the six months to December. .... [more] 6 Feb, 2003
Scooters aims for a larger slice of the pizza. Pizza chain Scooters expected to boost turnover by about R50m in the year to February 2004 and grow the number of its stores by 50% to 60, MD Carlo Gonzaga said yesterday. .... [more] 31 Jan, 2003
Tribunal's ruling ushers in new era for franchisees. Companies can no longer dictate a minimum price to their distributors or franchisees following a Competition Tribunal ruling earlier this week. .... [more] 31 Jan, 2003
Scooters gets a slice of World Cup deliveries. Scooters, the pizza delivery chain, had signed an agreement with the Gauteng Cricket Board to sell its product at the World Cup games, Carlo Gonzaga, the chief executive, said this week. .... [more] 30 Jan, 2003
Metcash backs out of R400m Philippines deal. METRO Cash & Carry (Metcash SA) has cancelled a R400m deal that could have seen it enter the grocery wholesale market in the Philippines. .... [more] 29 Jan, 2003
INTEREST - Stores adapt to shortage of small change. Major retailers have spent the past six months changing their systems to cope with the gradual disappearance of 1c and 2c coins. .... [more] 27 Jan, 2003
Nando's buyout offer now set at 70c a share. Minorities in Nando's Group Holdings who expressed dissatisfaction with the potential buyout offer price of 65c a share mentioned in the group's August cautionary notice are unlikely to feel far happier with the final 70c offer announced by Nando's controlling shareholders yesterday. .... [more] 23 Jan, 2003
Woolworths tightens grip on Country Road. Following last year's withdrawal from its 10-year stint in the US, Woolworths Holdings' Australian venture, Country Road, is now geared towards revving up profitability in Australasia through top line sales growth. .... [more] 23 Jan, 2003
NuClicks lines up its health agenda. Energy in the year ahead at New Clicks Holdings (NuClicks) would go towards converting associate company Purchase Milton & Associates (PM&A) into a successful retail pharmacy chain. .... [more] 21 Jan, 2003
Eloff awaits new input on the collapse of CNA. The report from Judge Frikkie Eloff, the commissioner presiding over the section 417 inquiry into the collapse of parts of the CNA group, is not expected in the near future. .... [more] 21 Jan, 2003
New Clicks hopes rules on pharmacies come out soon. New Clicks Holdings expects draft legislation dealing with changes in ownership of pharmacies by nonpharmacists may be published by the first or second quarter of this year. .... [more] 17 Jan, 2003
Retailers report six-month surge. SA's four major chain stores express some diffidence about Christmas trade, describing it as reasonable. .... [more] 8 Jan, 2003
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