am The Edcon group includes well known retail shops, Edgars, Jet and CNA. The first Edgars store opened in Johannesburg in 1929. Over the decades, it has brought new innovations into the regional market. These include being the first store to offer many international and national clothing, accessories, and cosmetics brands under one roof. The group has however been facing financial distress for sometimes and in recent years has closed around 150 stores within the group. Ignoring the signs of financial distress can be devastating for any company. Required What are the direct and indirect costs of financial distress? Which has more impact on the value of the company, and discuss the nature of these costs and how they affect the company, giving examples where possible? Final, discuss how a company can get out of financial distress? (20 Marks) 001 Rev 004