The transaction, which includes the retailer’s Wetherlys outlets, should ensure there will be “no retrenchment of the remaining 308 employees post-merger”, the Competition Commission said yesterday.
Ellerines went out of business in August after parent company African Bank failed.
Administrators winding down the operations have been unable to sell three of Ellerines’ six main brands. Lewis is buying the 63-store Beares brand, for R90 million, while Coricraft has said it will purchase Dial-a-Bed, valued at R200 million.
