Johannesburg - The directors and subsidiaries trading under the Moyo restaurant brand have filed a notice to start business rescue proceedings, the group said on Friday.
A business rescue notice was filed with the Companies and Intellectual Property Commission on Tuesday, the Gootspa Investments group said in a statement.
Stefan Smyth and Alison Timme were appointed to oversee the business rescue process and assess how entities could be restructured.
The group said it would still be “business as usual” heading into the peak season.
Secure trust accounts were in place to deposit money for functions and events.