The voices in government expressing concern about the potential liquidation of the sugar milling giant Tongaat Hulett keep growing. The Department of Trade, Industry and Competition (DTIC) believes liquidating the company should only be considered if all other avenues of business rescue have been exhausted.
By Lloyd Phillips, senior journalist at African Farming and Landbouweekblad
Parks Tau, the Minister of the DTIC, says his department and other organs of state will oppose efforts to have Tongaat Hulett placed under provisional liquidation. The DTIC will, instead, “support all lawful efforts aimed at finding a viable and durable resolution” to keep the long financially beleaguered company operational.