- Oct 2019
The 22 stores, which would have re-opened on Saturday under the control of the Spar Group South Africa, will revert to the control of the Giannacopoulos Group. It was business as usual for the Giannacopoulos Group after winning its High Court appeal late on Friday, reports Zululand Observer.
The group appealed the closure of its 22 Spar stores and 21 Tops Bottle Stores, which was overturned. The stores, which would have re-opened on Saturday under the control of the Spar Group South Africa, will revert to the control of the Giannacopoulos Group.
Shoppers at various Spar outlets in Richards Bay and Empangeni, as well as in Hartebeespoort, were greeted on Thursday morning by signs on the closed doors, after stores were sealed by the Sheriff’s office in accordance with a High Court application, Zululand Observer and Kormorant reported.
A statement from the Spar Divisional Managing Director Desmond Borrageira, said a decision was taken by The Spar Guild of Southern Africa Limited “to terminate the membership of the stores which fall within the Giannacopoulos Group”, claiming it was “competing with businesses of retail members and bringing the Spar brand into disrepute”.