Rebosis business rescue plan release was delayed again
Rebosis Property Fund’s business rescue plan is expected in January as BRPs work through complexities involved with the company, which has retail, offices and industrial assets. Rebosis entered business rescue at the end of August. The company cited rising interest rates, the inability to recover increased municipal costs from sovereign tenants, continuous delay of rental payments by some government departments (which makes up >50% of its revenue) and the government’s downward pressure on significant reversions with lease renewals as reasons.