SA Post Office provisionally liquidated

The SA Post Office is in a provisional liquidation after owing creditors, according to newspaper BusinessDay, over R4 billion.

‘’It is unfortunate that this particular provisional liquidation order relates to a debt that had since been settled. The SA Post Office would like to take this opportunity to reassure its stakeholders – in particular - its employees, customers and service providers that it has engaged the appropriate support to ensure that the organisation continues to act in the interests of all its stakeholders,’’ it said in a statement.

‘’The SA Post Office remains committed to the long term viability of its business and has, as such, been engaging with stakeholders on its business turnaround strategy. The organisation has the support of its shareholder and is addressing the matter with the appropriate legal support, so as to ensure that the interests of all stakeholders are protected,’’ it added.

SAPO said it regrets the decision to be liquidated, adding it had no other choice.

‘’It is not in the interest of any stakeholder - including creditors, and the country – for the SA Post Office to be liquidated. The organisation’s role in the delivery of services to the citizens of South Africa cannot be overemphasised. The SA Post Office is following all the necessary legal steps to have this matter resolved as soon as possible.’’

‘’The SA Post Office remains confident that its turnaround plan: *The Post Office Of Tomorrow Strategy* is sound - and will indeed achieve its objectives. The Shareholder has also demonstrated its support of this exciting strategy, by facilitating funding of the entity to the tune of R2.4 billion with the National Treasury, to enable it to settle some of its historical creditors, while implementing the strategy towards sustainability,’’ it added.

Done By: Mitchum George