Pick n Pay insists its not seeking mass retrenchments but says the move is critical to keep the 57-year-old retailer alive in the face of rising costs and a brutal trading environment.
It reported its financial results for the 52 weeks ended March 1st, 2026, with losses improving to R185 million in the 2026 financial year from R3 billion the year before.
CEO Shaun Summers has warned that Pick n Pay will likely take longer to break even.
