MASSMART HOLDINGS LIMITED
PRESS RELEASE - MONDAY 7 MAY 2001
At approximately 5.00 p.m. on Sunday 6 May, fire alarms and fire extinguishing
systems were activated and smoke was observed exiting the ventilation system on
the northern side of Makro, Woodmead.
The first fire engine reached the scene within 10 minutes closely followed by
others from nearby municipalities. Firemen broke into the building and
attempted to contain the fire, but excessive smoke and a rapid spread of fire
towards the southern area of the store, prevented this. By 6.30 p.m. the fire
had engulfed the entire store apart from the northern section, totally
destroying the building and all contents therein.
No foul play is suspected, but police and forensic experts commenced their
investigation at 7 a.m. this morning.
No lives were lost and no injuries sustained other than by two firemen who
experienced minor smoke inhalation problems.
The company is fully insured for all losses arising from this incident.
It is estimated that the value of the building, the stock and the fixtures and
fittings will approach R200m. The profits lost from today until such time as
the store is re-established at its current level of trading are also insured.
The jobs of the 180 permanent employees are secure.
Mr. Mark Lamberti, Executive Chairman of Massmart Holdings, the company that
owns Makro in South Africa, said that the management team of Makro was already
formulating plans for the rapid re-opening of the store and the retention of
customers through other Makro outlets.
It is anticipated that the store will be rebuilt and opened in under a year.
Ends
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