ThreadBank

1/ So you just trapped yourself in a car that costs R350,000 , with a 7-year loan, 19% interest, and a 35% balloon payment? You’re not alone but here’s exactly how you can fix it and escape this financial mess. A thread: 🚗💸🧵

7/ 🛑 As of 2023, Mango is still grounded. The airline has a business rescue plan, but the Dept. of Public Enterprises has not approved its sale to new owners. So it’s stuck in limbo not alive, not dead ⚰️

6/ ⚖️ In July 2021, Mango entered business rescue. Flights were suspended. Refunds delayed. Government promised funding but it never landed. Passengers lost trust. Staff lost hope. 💔

🧵 Why Did Mango Airlines Crash and Burn? SA’s Budget Airline That Flew Too Close to the Sun ✈️👇 1/ Bright orange planes. Affordable flights. Local travel made easy. Mango Airlines was once the budget carrier for South Africans. But today? It’s grounded with no sign of takeoff.

7/ 💀 By 2021, Clicks Group (which owned Musica) officially shut it down. After nearly 30 years, the brand was no longer sustainable. The final song had played. 🎵

6/ 🏬 Also, location problems. Most Musica stores were inside malls high rent, lower foot traffic. During COVID-19, with lockdowns and no customers, they bled cash fast. 💸

🧵 Why Did Musica Fail? SA’s Iconic Music Store Went Silent, Here’s the Full Story 🎶 1/ If you grew up in South Africa, you probably remember Musica 🎧 It was more than a store, it was a vibe. CDs, DVDs, posters, headphones, the full experience. So what happened? Let’s rewind

9/ So, what killed Edgars? ❌ Debt ❌ Slow trend response ❌ Weak digital strategy ❌ Over-reliance on credit ❌ External shocks (like COVID) A perfect storm ⛈️

8/ ⚠️ In 2020, Edcon entered business rescue. Stores closed. Jobs lost. Legacy brands like Edgars & Jet were sold off to stay alive but the Edgars we knew was gone 😢

🧵 Why Did Edgars Fail? South Africa’s Retail Giant Crumbled, Here’s the Story: 1/ For decades, Edgars was the go-to fashion retailer in South Africa 👗🇿🇦 Stylish. Middle-class. Aspirational. So what went wrong? Let’s unpack how a retail empire collapsed while the world watched