Although Ellies Holdings is facing liquidation, the group’s underlying businesses could yet be saved.
Browsing: Ellies Holdings
Ellies Electronics has received buyout offers from unnamed third parties that its CEO believes could save the company.
One of the JSE’s longest-surviving technology companies is no more: Ellies Holdings will be wound up and shut down.
One of the JSE’s longest-surviving technology companies has been placed into voluntary business rescue.
Ellies Holdings has agreed to buy 100% of Bundu Power, a company that specialises in alternative power solutions, for a maximum R202.6-million.
Ellies Holdings cautioned investors on Wednesday that it is in negotiations about potential acquisitions in the solar and renewable energy sectors.
Ellies Holdings said on Monday that it will embark on a “formal consultation process” with employees under the Labour Relations Act.
Shares in JSE-listed electronics group Ellies Holdings plunged as much as 44% on Friday after it issued a weaker-than-expected trading update.
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