Read the following press statement issued by the National Council of SPCAs $($NSPCA$)$ concerning

their interactions with Shoprite Checkers, a subsidiary of Shoprite Holdings:

$$The National Council of SPCAs $($NSPCA$)$ confirms their separation from the Shoprite Checkers

$$Swipe for Good$$ initiative which had major teething issues from the onset with unauthorised use of

the SPCA trademarks.

This decision, which has not been taken lightly, came after months of differences and a Memorandum

of Understanding which has not been completed and signed yet. From $15$ October $2019$ to $21$ April

$2020,$ the NSPCA has only benefited R$16252\mathrm{.}00$ this is only over R$2000$ a month while our brand

offers a great deal of credibility to the initiative$.$

Discuss the impact of negative press on Shoprite Holdings and suggest how the financial

manager can attempt to rectify and rebuild their relationship with this organisation and their

customers. Highlight the importance of sound financial management practices in the retail

sector and the impact they can have on a company's overall performance.