5th April 2021
While stories told about Payless Supermarket in the last two years have been about ‘death’, following an imminent bitter divorce with its direct competitor – Choppies Enterprises, the new owners speak ‘life’ to the resurrected retail giant.
The supermarket is now owned by Payless Retail Proprietary Limited, which in turn is owned by Ellis Retail Group – a company under the Acute Global Limited group of companies.
Facing financial crisis and imminent liquidation, Payless closed most of its stores across the country in April 2020 after one of the creditors – Choppies Enterprise petitioned the High Court. As is so common with every company struggling to effect a turnaround strategy in the wake of financial difficulties, job losses was one of the things that happened at Payless.