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Cross Trainer faces liquidation as buyers and lenders abandon ship – News24

The Cross Trainer, a popular South African sports retailer, is facing a grim future as news of its impending liquidation spreads. Buyers and lenders have turned their backs on the struggling company, leaving its fate hanging in the balance.

The Cross Trainer, known for its wide range of athletic footwear, apparel, and accessories, has been a staple in the South African retail landscape for years. However, like many other retailers, the company has been hit hard by the economic challenges brought on by the COVID-19 pandemic.

As the retail industry continues to grapple with the effects of the pandemic, The Cross Trainer has found itself unable to keep up with the changing market dynamics. With sales plummeting and debts mounting, the company has been forced to explore options for restructuring or liquidation.

Buyers who were once interested in acquiring The Cross Trainer have now backed out, citing concerns about the company’s financial health and uncertain future. Lenders, too, have become wary of extending further credit to the struggling retailer, leaving it with limited options for survival.

The news of The Cross Trainer’s potential liquidation has sent shockwaves through the retail industry, with many expressing sadness at the possible loss of a beloved brand. Customers who have long been loyal to the retailer are now left wondering about the fate of their favorite stores and the future of the brand they have come to trust.

Despite the challenges facing The Cross Trainer, the company remains hopeful that a solution can be found to save the business. Management is reportedly exploring all possible avenues for restructuring and turnaround, in the hopes of securing a future for the iconic retailer.

As The Cross Trainer heads towards liquidation, the retail industry in South Africa is left to ponder the implications of yet another casualty of the pandemic. The fate of the company serves as a stark reminder of the challenges facing businesses in these uncertain times, and the need for resilience and adaptability in the face of adversity.

In the coming weeks and months, all eyes will be on The Cross Trainer as it navigates the difficult road ahead. The outcome of the company’s struggles will not only impact its employees and stakeholders but will also serve as a barometer for the health of the retail industry as a whole. Only time will tell what lies ahead for this once-thriving brand.

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