S.Africa’s Woolworths Is About To Be Taken Over In a $2.2billion Deal

You remember Woolworths? The South African fashion store that was once trading on Adeola Odeku VI? The company is about to be bought by an Australian company David Jones in a deal worth $2billion according to Reuters. The company closed shop in Lagos a few years back after it struggled to attract customers and increase sales.

The company cited expensive rent and supply chain challenges as it’s reason for pulling out. Maybe the new owners will bring them back soon considering that Mr Price has thrived where they failed.

Reuters