Suren Naidoo
2 minute read
13 Feb 2021
7:15 am

Studio 88 owner acquires John Craig retail chain, saving over 400 jobs

Suren Naidoo

The value of the deal has not been disclosed as Blue Falcon is unlisted and privately owned.

John Craig menswear chain - Picture: Moneyweb

Johannesburg-based independent specialist retail group Blue Falcon 188 Trading, which owns the popular Studio 88 chain of stores, has secured approval from competition authorities to acquire the struggling John Craig menswear chain from JSE-listed Pepkor. The Competition Tribunal announced the approval of the transaction on Thursday, saying that the deal will see 422 jobs being saved within the John Craig business. John Craig is a 73-year-old chain, which has been wholly owned by Pepkor since 2006. It fell under the Pepkor Speciality division in recent years, but late last year Pepkor announced plans to sell the chain amid waning formal...