President Stores CC

President Stores CC

President Stores had traded for over fifty years as a high-end ladies fashion retailer, but as a result of reduced sales, poor credit and declining profit margins, they experienced financial difficulties and commenced with Business Rescue proceedings.

Unprofitable stores were closed, and various stores were sold, as well as initiating and intensive debt collection process.

The outcome was that secured creditors were paid in full, and a successful business rescue was achieved.

Matuson & Associates received the Turnaround Management Association of South Africa runner up award in the small to medium Business Rescue category in 2014 for this successful Business Rescue.