It’s reckless! - Steinhoff Africa Retail on Tekkie Town mass resignations

Also read:

It’s reckless… The people who have stayed in the business… we’ll do our best to defend every employee who have stayed…

Jayendra Naidoo, Steinhoff Africa Retail

Star has 5100 stores… Tekkie Town has 368. Even if 100 left… Star has the capacity to replace the Tekkie Town management…

Jayendra Naidoo, Steinhoff Africa Retail

Many of the problems between Tekkie Town and Steinhoff Africa Retail (Star), which led to mass resignations on Monday, were caused by the worsening relationship between Tekkie Town founder Braam van Huyssteen and Star CEO Leon Lourens.

Employees are rallying behind Tekkie Town and the culture established by Van Huyssteen.

Van Huyssteen, moved by the resignations, is undertaking to financially assist all of his previous employees – who he says he views as family - until he has “personally run out of money”.

He is also planning to evict Star from its premises in George, which he owns.

The Money Show’s Bruce Whitfield interviewed Star Chairperson Jayendra Naidoo, as the fight for the soul of Tekkie Town in George reaches fever pitch.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Tekkie Town represents about 3% or 4% of the revenue of Star…

Jayendra Naidoo, Steinhoff Africa Retail

We’ve got to be very firm, from a legal point of view… it’s regrettable that it has come to this…

Jayendra Naidoo, Steinhoff Africa Retail

Star has taken legal advice… at this point in time we’re not leaving…

Jayendra Naidoo, Steinhoff Africa Retail

Every company has a risk that their employees will take IP and start a competing business… Star will not like anybody to attempt to compete using IP or information that belongs to the company…

Jayendra Naidoo, Steinhoff Africa Retail

We’ve got legal rights… we’ll enforce them… We’re not capable of being pushed out.

Jayendra Naidoo, Steinhoff Africa Retail

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