JOHANNESBURG – Budget retailer Choppies said yesterday that it had closed bids for its South African stores, which had opened a fortnight ago.
Botswana-based Choppies said it would now be engaging with bidders, which “may result in negotiations being entered into and agreement being reached for the sale of the South African operations/subsidiaries of the company.”
Choppies has 88 stores in South Africa and operates in eight African countries.
Choppies, which is restructuring its operations, in August said it was considering pulling out of its South African operations after a review of the business and that it had received offers.
It is exiting other countries in Africa and said recently that it had received interest on its Tanzanian business and was in talks to offload its Kenyan operations. Its long-delayed results for 2018 are expected to be released by December 6.