Massmart says 41 stores, two distribution centres affected by riots
JSE-listed consumer goods group Massmart said rioters gained access to and made off with merchandise in 18 Cambridge, ten Game, eight Builders Warehouse, three Cash & Carry and two Makro stores.
Two of the company's distribution centres have also been directly impacted and four facilities in total have suffered significant damage as a result of arson.
"As we have managed through the crisis, our immediate priority as a company has been first and foremost to ensure the safety and security of our employees and customers and to take practical steps to protect our stores and distribution centre facilities.
"This has resulted in the temporary closure of a number of vulnerable stores and facilities over the last few days," Massmart said on July 16.
Massmart has activated back-up plans to ensure full and complete business recovery, starting with the responsible reopening of stores as soon as it is safe and practical to do so.
Simultaneously, the group successfully activated business continuity replenishment plans that involve shifting replenishment capability to distribution centres into which it built-in backup capacity. It is confident in its ability to serve the stock needs of its stores.
"The full extent of the damage is still being assessed. However, Massmart confirms that the insurance cover in place for such events will minimise losses to the group. We remain encouraged that the overall situation is stabilising as government deploys additional law enforcement resources and restores order."
Massmart continues to collaborate with and leverage the full support and expertise of its majority shareholder, Walmart, that unambiguously expressed its commitment to the business.
"We remain focused on helping our employees, customers and the communities that we serve to fully recover from the unfortunate events of the last several days," the group said.
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