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Tongaat Hulett’s liquidation threatens ‘million livelihoods’

TONGAAT Hulett has filed for provisional liquidation after Vision Group failed to secure financing from the IDC, threatening South Africa’s entire sugar industry and potentially affecting 28,100 cane growers and millions of livelihoods across KwaZulu-Natal and Mpumalanga. Business rescue practitioners in Tongaat Hulett on Thursday said the company had now filed for provisional liquidation, saying…

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Liquidation looms for Tongaat Hulett

PIETERMARITZBURG – Tongaat Hulett is shutting down following the collapse of its Business Rescue Plan. It follows the lapse of the sale agreement with Vision the company poised to take over. The Business Rescue Practitioners have approached the High Court in Pietermaritzburg to place Tongaat under provisional liquidation. The company entered business rescue in October…