Johannesburg – Retail giant Shoprite has tallied up the damages the group suffered in the July unrests which amount to a mammoth R1.3 billion.
The company, in its operational update for the quarter ended September said at the end of the quarter under review, 47 of its stores which were extensively damaged in the unrests remained closed.
“With reference to the damage caused by the abovementioned civil unrest, the Group estimates the book value of the damage to property, fixtures and fittings, stock and fleet to be in the amount of R1.25 billion,” the retailer said in a statement.
“Shoprite has Sasria (South African Special Risks Insurance Association) cover in place to the value of R1.5 billion and we can confirm to date that an initial R500 million payment was received from Sasria in September 2021.”
The group, however, reported a strong set of financial for the period with sales going up 9.3% in the period.
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