Our Projects

The process of converting their Score brand stores into the Pick n Pay or Boxer formats unfortunately left a number of stores surplus, where the site either didn’t merit the significant investment involved in an upgrade, or where an existing PnP group store was too close by.

Alchemy sold 36 stores as going concerns (hence protecting ±1 500 jobs and minimising Score’s possible retrenchment costs and reputational risk, while also securing sub-rental income). In a further 4 cases, where going concern sales were impractical, the cancellation route was successfully followed. 

In this instance, in order to secure a property solution (minimise risk related to >R60 million outstanding lease obligations), Alchemy has had to play business broker (unlocking >R50 million for fixtures & stock), an example of our commitment to getting the job done.

Making the best of a bad situation