News just in: Creditors have voted in favour of the Business Rescue Plan that is aimed at rescuing the ailing South African Post Office, and this unfortunately means that the retrenchment of approximately 6 000 employees will now go ahead as proposed by the Business Rescue Practitioners.
Recently, the joint Business Rescue Practitioners of SA Post Office, Mr Anoosh Rooplal and Mr Juanito Damons painted a very disturbing picture about the state of affairs surrounding the Post Office. According to them, the organisation’s financial sustainability is a critical concern that demands immediate attention. For instance - as of July this year, the Post Office had a negative shareholder equity of R7.9 billion and its costs have exceeded 200% of its revenue. But can the organisation be saved or it’s just too little too late?
GUEST: Mr Anoosh Rooplal, SA Post Office Business Rescue Practitioner