Business tycoon Robert Gumede highlights the importance of withdrawing the Tongaat Hulett liquidation application to safeguard jobs and combat foreign sugar dumping in South Africa.
Gumede, of Vision Group, one of the creditors of the company, said he was confident in turning around the fortunes of the company.
It was announced that the Durban High Court granted the joint Business Rescue Practitioners (BRPs) of Tongaat Hulett Limited leave to withdraw the company’s provisional liquidation application this week. The withdrawal of the application has been welcomed by different stakeholders who stated that the company was crucial to the economy of the province.
A joint statement issued said the BRPs of Tongaat Hulett Limited, the Industrial…