R1bn in Pick n Pay food debt

Pick n Pay has approved over R1 billion in credit to some 56,000 account holders since the launch of its store account in September last year. The retailer worked with RCS to design the account to be “the most affordable form of credit” – a monthly account where no interest is charged if the balance […]

Retailer under fire over credit

Pick n Pay taken to task as claims emerge of Rlbn extended to unsuspecting, naive customers for groceries RETAILER Pick n Pay has come under fire for reportedly exploiting financially illiterate consumers in the wake of an announcement by the retailer it has approved and granted at least R1bn credit facilities to consumers. Debt Rescue CEO Neal […]

R1bn in PnP food credit

Correction: This article has been amended to clarify that the R1bn refers to the total credit facility made available by Pick n Pay for cards. It does not refer to credit already taken up by customers, as Fin24 wrote in a previous version of this article.  Johannesburg – Pick n Pay says it has granted R1bn […]

Pnp – R1 billion worth of credit to consumers

PnP – consumers debt over R1 Billion

Pick n Pay – smaller stores

Pick n Pay will avoid building “huge stores”, as consumers are becoming less inclined to do large weekly purchases, says CEO Richard Brasher. Excluding its Zimbabwean operations, the retailer opened 124 net new stores in the year to February 25, adding 3.3% to its total space. None of these new stores was hypermarkets, while the […]

PnP announces customer credit up to R1 Billion