How many CNA stores are there in South Africa?

How many CNA stores are there in South Africa?

How many CNA stores are there in South Africa? CNA is a national retail chain focusing on stationery and books. Established in 1896 , CNA has a footprint of 163 stores in South Africa and selected stores in Namibia , Botswana, Lesotho and Swaziland.

Has CNA closed down?

The company ended up in business rescue, and was dissolved last year, with all of its subsidiaries sold off. Makwe Masilela chief investment officer at Makwe Fund Managers, says CNA’s problems were exacerbated by being part of the Edgars stable.

What does CNA store stand for?

Consolidated News Agencies
Central News Agency or Consolidated News Agencies, better known simply as CNA, is a South African retail chain of stationery and book stores.

Is CNA still part of Edgars?

In 1982 the company, still known as Edgars, was acquired by South African Breweries. It launched its Red Square retail chain in 1996 and acquired the struggling stationery retailer CNA in 2002 for R130 million.

Why are CNA stores closed?

Fin24 previously reported that CNA is behind on payments to suppliers and landlords. The retailer has been hard-hit by the Covid-19 pandemic, which kept customers out of the country’s big malls, and its stores.

What happened to CNA South Africa?

Edcon Group says it has sold stationery retailer, CNA to a consortium of investors led by JSE-listed Astoria Investments. The sale will include all 167 CNA stores as well as all brands and trademarks, with the business continuing to trade under the CNA brand name.

Has CNA been sold?

In February 2020, Edcon, then owner of Edgars and Jet, sold CNA for R1 to private-equity fund Astoria Investments and Benjamin Trisk, the former CEO of Exclusive Books, and a group of senior management who had worked at Exclusive Books.

Does Edcon own CNA?

JOHANNESBURG, Feb 4 (Reuters) – South African retail group Edcon said on Tuesday it was selling stationery business CNA to a consortium majority owned by Astoria Investments.

Who is the new owner of CNA?

It is run by Mediacorp News Pte Ltd, a subsidiary of the Singapore’s media conglomerate Mediacorp Pte Ltd.

Who owns CNA in South Africa?

Astoria Investments
JOHANNESBURG, Feb 4 (Reuters) – South African retail group Edcon said on Tuesday it was selling stationery business CNA to a consortium majority owned by Astoria Investments.

Why did CNA close down?

Stationery retailer CNA is facing a financial crisis, with its board threatening legal action against its controversial CEO and creditors claiming they have not been paid for months. After only a year at the helm, investment company Astoria announced last week that it sold its stake in CNA Holdings to management.

Why did CNA close?

What does CNA store sell?

CNA is part of the EDCON Group, a leading South African retail giant with brands in clothing, footwear homeware, and stationary. The CNA division of the Edcon Group is constantly growing and has categories in electronics, writing material, stationary, books and mobile phones.

What happened to CNA in South Africa?

CNA was placed into business rescue in June after the management team had fallen out with former CEO and minority shareholder Benjamin Trisk.