Date: 1995/01/13
Cape Town fashion entrepreneur Marcel Joubert has bought the Hilton Weiner chain of upmarket clothing stores from the ailing Bergers group in a deal believed to be in the region of a million rand.
Joubert plans to operate all 17 Hilton Weiner stores countrywide and, possibly, open some, which had closed.
Bergers, with debts of R90 million, is fighting liquidation.
Joubert founded his operation, Vertigo, which currently runs two clothing stores in Cape Town, in 1985.
Bergers has raised the R20 million it needs to hold in trust to finance an offer to creditors and shareholders. The offer involves paying creditors 30c in the rand, with the balance made up by shares.
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