Tekkie Town ownership battle set to drag on for longer
By Sandile Mchunu
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DURBAN - PEPKOR Holdings and former Tekkie Town executives continue to fight for control of the branded footwear, apparel and accessories retailer, with no end in sight just yet.
This week both parties claimed victories after the Western Cape High Court ruled on Wednesday that it could not find whether Pepkor Holdings and Pepkor Speciality had “actual knowledge of the misrepresentations or reckless conduct” by Steinhoff International when the troubled retailer acquired Tekkie Town shares from the former executives in 2016.
Pepkor Holdings is a Steinhoff subsidiary and it was listed separately on JSE in September 2017 as Steinhoff Africa Retail.