September 12, 2019 / 1:35 PM / 11 days ago

South Africa's Mr Price suspends two senior managers

JOHANNESBURG, Sept 12 (Reuters) - South African clothing retailer Mr Price Group Ltd said on Thursday two members of the senior management had been suspended as a precaution following allegations of non-compliance with the firm’s code of conduct.

Mr Price, which also sells furniture and home decor, said in the statement that a single supplier was also involved. It did not name the managers or the supplier.

“The allegations do not relate to any financial reporting irregularities, nor do they involve any Executive or Non-Executive Directors,” it said.

The employees had been placed on precautionary suspension while an internal investigation was under way to ensure “this matter is fairly and expediently resolved,” it said.

Reporting by Nqobile Dludla; Editing by Edmund Blair

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