Tongaat Hulett’s rescue failed Feb. 11, 2026, leading to liquidation efforts after a major sale collapsed and shareholders rejected a ZAR5.9 billion deal.

Tongaat Hulett’s business rescue process ended February 11, 2026, after failing to secure funding, prompting rescue practitioners to seek provisional liquidation. A proposed ZAR5.9 billion sale to the Vision Group, backed by R2.3 billion in refinancing, was rejected by shareholders. Despite the collapse, the South African Farmers Development Association remains hopeful a solution can be found during liquidation to preserve operations. Tongaat Hulett, which entered rescue in October 2022 over accounting scandals and now faces ZAR10.4 billion in liabilities, operates in Zimbabwe through Triangle Limited and Hippo Valley Estates, where operations remain stable amid uncertainty over the parent company’s future and potential asset sales.