One of South Africa’s biggest trucking companies, Izusa Carriers (Pty) Ltd, has officially entered business rescue, sending shockwaves through the transport industry and leaving hundreds of employees and their families facing an uncertain future.
The move, which was confirmed in an official moratorium letter seen by SA Trucker, comes as the company struggles with financial difficulties.
According to the Companies and Intellectual Property Commission (CIPC), Izusa Carriers was placed under business rescue on 7 March 2025, in terms of Section 129(1) of the Companies Act 71 of 2008.
Business Rescue Practitioners Appointed
Two business rescue practitioners, Mr. Thomas George Nell and Mr. Petrus Jacobus Corné van Staden, have been appointed to oversee the restructuring process and determine the company’s future. They will now develop a Business Rescue Plan, which will include a payment structure for outstanding debts.
Debt Moratorium in Place
A legal moratorium has been placed on all legal proceedings against the company, meaning creditors cannot take immediate legal action to recover outstanding debts. Instead, they are required to submit claims for assessment under the business rescue process.
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What This Means for Employees and Suppliers
This development puts hundreds of truck drivers, workshop workers, and administrative staff at risk, as the fate of their jobs depends on whether the company can recover. Many families who rely on Izusa Carriers for income are now left uncertain about their future.
Suppliers and subcontractors working with Izusa Carriers are also affected, as payments for outstanding invoices will be subject to the new rescue plan.
The business rescue practitioners will now assess the company’s financial position and attempt to save the business. However, if rescue efforts fail, Izusa Carriers could face liquidation, which would result in the loss of jobs and assets.
For now, all eyes are on the rescue practitioners to see whether they can steer the company back to stability.
This is a developing story.
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