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EDITORIAL: Spar — friendly but fragile

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Shareholders will be kicking themselves for not asking tougher questions about the retailer’s debt-fuelled expansion.

The travails of food wholesaler Spar illustrate that no matter how quickly you think you’ve nipped a problem in the bud, chances are the rot goes way deeper.

Seven months ago, Spar waved goodbye to CEO Brett Botten and long-standing chair Graham O’Connor amid a raft of allegations of self-dealing and shoddy governance, including fictitious loans ostensibly made to franchisees years ago worth R11m. ..If you have already registered or subscribed, please sign in to continue.

 

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EDITORIAL: Spar — friendly but fragileShareholders will be kicking themselves for not asking tougher questions about the retailer’s debt-fuelled expansion.
Source: FinancialMail - 🏆 20. / 63 Read more »

EDITORIAL: Spar — friendly but fragileShareholders will be kicking themselves for not asking tougher questions about the retailer’s debt-fuelled expansion.
Source: FinancialMail - 🏆 20. / 63 Read more »