TFG gets tribunal approval to acquire Jet stores

The go ahead is subject to the clothing retailer not retrenching any Jet employees in the acquired stores in the next two years and prioritising former Edcon workers when hiring new staff

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The purchase of Jet stores by TFG has been given the go ahead from the Competition Tribunal on Wednesday, with instructions that it cannot retrench any Jet employees in purchased stores for the next two years.

TFG, the owner of Foschini and other brands including Duesouth and Sportsscene announced in July it had made a R480m bid for commercially-viable Jet stores including stock worth R800m. ..

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