ThreadBank

I write short stories about long mistakes 🙂

[ThreadBank @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:
🚗💸🧵

[ThreadBank @ThreadBank]

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 ⚰️

[ThreadBank @ThreadBank]

🧵 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.

[ThreadBank @ThreadBank]

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. 💔

[ThreadBank @ThreadBank]

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. 🎵

[ThreadBank @ThreadBank]

🧵 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

[ThreadBank @ThreadBank]

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. 💸

[ThreadBank @ThreadBank]

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

A perfect storm ⛈️

[ThreadBank @ThreadBank]

🧵 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

[ThreadBank @ThreadBank]

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 😢