The Durban High Court is set to hear an application for the provisional liquidation of Tongaat Hulett today, marking a critical juncture for the 134-year-old sugar giant. Business rescue practitioners have brought the application after the collapse of a rescue plan approved by creditors in 2024, which aimed to sell the company to the Vision Group. The company's troubles began in 2019 with a devastating accounting fraud scandal, leading to a R12-billion write-down in value and exposing a debt burden of 6-point-6-billion rand. Despite entering business rescue in 2022, Tongaat Hulett has struggled to regain its footing, with the recent collapse of the Vision Group deal. Elvis Presslin spoke to COSATU KwaZulu Natal Provincial Secretary, Edwin Mkhize

<p>The Durban High Court is set to hear an application for the provisional liquidation of Tongaat Hulett today, marking a critical juncture for the 134-year-old sugar giant. Business rescue practitioners have brought the application after the collapse of a rescue plan approved by creditors in 2024, which aimed to sell the company to the Vision Group. The company's troubles began in 2019 with a devastating accounting fraud scandal, leading to a R12-billion write-down in value and exposing a debt burden of 6-point-6-billion rand. Despite entering business rescue in 2022, Tongaat Hulett has struggled to regain its footing, with the recent collapse of the Vision Group deal. Elvis Presslin spoke to COSATU KwaZulu Natal Provincial Secretary, Edwin Mkhize</p>

News and Current Affairs show between 5 & 6 am on SAfm 104 to 107 anchored by Tsepiso Makwetla

First Take SA

A weekly news and current affairs show presented by Elvis Presslin on SAfm 104 to 107 from 5:00 to 6:00 am.

<p>A weekly news and current affairs show presented by Elvis Presslin on SAfm 104 to 107 from 5:00 to 6:00 am.</p>