The South African construction industry has raised concerns about the potential liquidation of the iconic company, Murray & Roberts. Key industry players and labour unions say this will have a profound impact on the sector.
A creditor has initiated legal proceedings in the Gauteng Division of the High Court, seeking a final or provisional winding-up order against the company.
In a surprising turn of events, Murray & Roberts has indicated that it does not intend to oppose this application. This comes after a period of intense financial distress for the company, which had been undergoing a business rescue process.
South African engineering and construction company founded in 1902, with operations spanning 120 years. The company is now…