Much of what has been heard about the effect of the global credit crunch has related to the United Kingdom and the USA.
When well-known South African brands are affected, the credit crunch is a litle too close to home for comfort.
Madame Zingara and Carlucci’s went into liquidation earlier this year. Now three Vide e Caffe branches, in St George’s Street, on Greenmarket Square, and in Bayside Mall have closed, despite the company expanding its operation to the United Kingdom in the near future. The three Vida e Caffee outlets belong to a franchisee who is taking the Vida e Caffe franchisor to court for alleged misrepresentation of the income potential of his three outlets.
A shock discovery earlier this week was to see the poor state of the Orchards farmstall on the N2 highway outside Grabouw. It has been a landmark on the trip from Cape Town to Hermanus. Hardly any fruit was displayed, and the few bananas on the shelf were black. The restaurant service was poor, and on enquiry the customer was told that the farmstall is in liquidation. It has apparantly just been taken over by a new owner. A few kilometers further along is an auction sign outside the popular Houw Hoek farmstall, also on the N2 highway. The auction will take place later this month.
Wang Thai and Cafe Delmar in Camps Bay have also closed down.
Two estate agencies have closed down and are in liquidation – Churchill Murray closed last month, and O’Shea Properties has just closed down, the latter only having operated for a few months, and was originally Engel & Volkers.



