Mass DIY retailer reveals looting damage at 36 stores

 Mass DIY retailer reveals looting damage at 36 stores

Listed mass retailer of building materials, home improvement and related products, Cashbuild on Wednesday (14 July) highlighted the damage caused to its outlets and operations mainly in Gauteng and KwaZulu-Natal from the ongoing violent protests and looting in South Africa.

As of this morning (14 July), a total of 36 stores – 32 Cashbuild and 4 P&L Hardware stores – have been damaged and looted and are currently unable to trade, it said in a statement.

The group has 317 stores – 258 Cashbuild, 58 P&L Hardware and 1 Cashbuild DIY – countrywide.

“Cashbuild has insurance cover in place for such events to minimise losses to the Group. Although higher yesterday, 33 stores remain closed today as a precautionary measure to prevent further damage. This will be continuously reassessed as the situation in the country normalises.

“Cashbuild will hereafter initiate a process of rebuilding, restoring and restocking the affected stores for trading which, dependant on the nature and extent of the damage, will determine the timeline to reopen,” it said.


Read: Looters, gangsters and the ‘third force’ – the disturbing root of South Africa’s violent…

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