END OF AN ERA: Longstanding Nelson Mandela Bay fabrics company Mums is thought to have become the latest casualty of the struggling textile industry and will soon go under the hammer. Picture: BRIAN WITBOOI
Mums’ sale of R5m worth of stock nears end
POPULAR Nelson Mandela Bay fabrics company Mums has gone under and will soon go under the hammer, spelling the end of an era for many in the city. Newton Park-based Mums is just days away from the end of its liquidation sale of R5-million worth of stock – which is being sold at half the price – to pay off creditors.
The longstanding company, which has been a feature in the city for 25 years, is believed to have become the latest casualty of the struggling textile industry that has been knocked by clothing imports.
Aucor Auctioneers auction manager Vincent Moss confirmed the closure of the business and said that imports had played a big role in Mums going under, resulting in a loss of clientele and the company being unable to cover its overheads.
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