This week’s column focuses on one of the the best books on business gamification. We need to put our own pain aside and consider that of other race groups, says Solly Moeng.
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(Denel) Cash-strapped, Gupta-linked company VR Laser is hoping to free up cash through a possible sale, as well as a R40m claim against Denel. VR Laser employees have not been paid in two months, but business rescue practitioner Coronado’s Louis Klopper hopes this will change. He said creditors met on Thursday to vote on a plan to sell the company to a new owner. It has been reported that since VR Laser went into business rescue, none of the employees have been paid. The cash flow problems appear to be due, in part, to money owed to the company that remains unpaid. Klopper said VR Laser had a claim of about R3m with Optimum Coal Mine for services rendered.
He said VR Laser staff were involved in the maintenance of the draglines at the mine. Klopper also said that at the time of business rescue proceedings, the company had a claim against Denel of about R26m for delivered goods. “Since then, the claim has grown in excess of R40m.
Denel says it has not got money to pay their outstanding debt and will see if something can be paid by this month end,” Klopper said. State-owned arms dealer Denel has also faced cash flow problems in recent months. In December it did not have enough money to pay staff salaries, but was saved through an emergency government loan guarantee of R580m to pay employees and suppliers. Read more from fin24.com…
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