ROAD TO RUIN

29th March 2019

By: Darlene Creamer

     

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Iconic South African construction company Group Five filed for business rescue earlier this month and also applied for its shares to be suspended from trade on the JSE, after 45 years of trading. In a statement to shareholders, the board cautioned that there was only a slim chance for any realisation of value. Should the company fail to emerge from rescue, it will be the highest-profile casualty of South Africa’s construction market decline, even if the final straw was a power contract in Ghana.

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