Retailer CNA battles to avoid business rescue

The original article can be found here.

  • Creditors remain in the dark as CNA battles to avoid business rescue;
  • The board is accusing CEO Benjamin Trisk of engaging business rescue practitioners without its consent;
  • It is understood that CNA has not paid multiple creditors for months;
  • Majority shareholder Astoria, which owns 70% of the business, announced on Thursday that it would sell its holding to management (which owns the remaining 30%) for the price it paid.