A group of large-scale sugar growers is looking to save Tongaat Hulett, with the iconic company set for a liquidation hearing less than one month away.
Tongaat’s history dates back to 1892, and it grew into one of the nation’s primary sugar producers, supporting thousands of jobs in KwaZulu-Natal.
Despite its significant history, the company was placed in business rescue in October 2022 after an accounting scandal under its former management.
Although it received funding from the Industrial Development Corporation and the Vision Consortium, the parties would disagree over further funding arrangements.
This led the business rescue practitioners to apply for…