19 Jul - 2 min read

Voluntary update on impact of civil unrest on Lewis group

Voluntary update on impact of civil unrest on Lewis group

Lewis Group Limited
Incorporated in the Republic of South Africa
Registration number: 2004/009817/06
JSE share code: LEW
ISIN: ZAE000058236
Bond code: LEWI
(“Lewis Group” or “the group”)


VOLUNTARY UPDATE ON IMPACT OF CIVIL UNREST ON LEWIS GROUP

The widespread violence and looting experienced in KwaZulu-Natal and parts of
Gauteng last week has had a significant impact on the group’s store operations.
A total of 58 stores were looted and damaged and are currently not able to trade,
including 54 stores in the ‘traditional’ segment across the Lewis, Beares and Best Home
& Electric brands and four UFO stores.
At the height of the unrest last week over 260 stores across the group were closed as a
precautionary measure to ensure the safety of employees and customers, and to
minimise losses.
Management is currently assessing the extent of the vandalism and it is too early to
provide an estimate of the damage to the stores. The group has SA Special Risk
Insurance Association (SASRIA) cover for losses arising from riot action.
The group is working closely with its supply chain partners, landlords and other service
providers to restore operations as speedily as possible. Besides the damaged stores,
only seven other stores remain closed today, Monday 19 July.


Cape Town
19 July 2021

Sponsor
UBS South Africa (Pty) Ltd

Debt sponsor
Absa Bank Limited acting through its Corporate and Investment Banking Division




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Date: 19-07-2021 04:05:00
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