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>

SAfm Current Affairs is home to three informative one-hour-long news and actuality radio shows. Brought to you by SABC News.

<p>SAfm Current Affairs is home to three informative one-hour-long news and actuality radio shows. Brought to you by SABC News.</p>