1Time was granted provisional liquidation by the Pretoria High Court yesterday, the company said.
“I can confirm that we have been granted provisional liquidation by the court,” said spokeswoman Refilwe Masemola. She could not give details on the liquidation process because the company was being handed over to a liquidator who would take responsibility for all communication.
1Time announced on Friday that it had applied for business liquidation, and that all of its flights had been grounded. The firm had about R320 million in short-term debt and had been in negotiations with creditors since March. – Sapa