The Industrial Development Corporation (IDC) is non-committal on whether it will provide additional financial support to the financially embattled sugar group and former land developer Tongaat Hulett.
The corporation said this on Friday in response to Tongaat’s business rescue practitioners (BRPs) confirming on 12 February that “after exhausting all reasonable endeavours” they had applied to the KwaZulu-Natal (KZN) division of the high court for an order to discontinue the rescue proceedings and place Tongaat into provisional liquidation.
Read/listen:
The Department of Trade,…