SAPO liquidation risk not off the table as business rescue drags on

The possibility that the South African Post Office (SAPO) could be placed under liquidation remains.
A draft application has been prepared to file for its liquidation if National Treasury is not forthcoming with a capital injection. That’s according to the Post Office’s Business Rescue Practitioners.
SAPO was placed under business rescue, in July 2023. It followed a provisional liquidation that required the post office to restructure, reduce debt and avoid a total shutdown.
SAPO’s Business Rescue Practitioner, Anoosh Rooplal, says they were promised R3.8 billion, 18 months ago that they haven’t received yet.
“Is the post office at risk of liquidation? We responded that the risk of liquidation is not gone, it’s still there. What we have now is an exchange of correspondence following due process. This is one of the reasons we requested a deferral: we wanted all the parties to review and respond, because this is quite an involved process,” says Rooplal.
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