Business Rescue

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Introduction

Welcome to the official information page regarding Daybreak Foods' business rescue proceedings. On June 12, 2025, the Daybreak Foods Board of Directors passed a resolution to voluntarily undergo the business rescue in accordance with the Companies Act 71 of 2008. This decision was made after careful consideration, as the Board had reasonable grounds to believe that the company was financially distressed and that there was a reasonable prospect of rescuing it. The company is currently under the supervision of a Business Rescue Practitioner, Mr. Tebogo Christopher Raymond Maoto, who was appointed on the same date.

Official Business Rescue Documents

This section contains all official documents related to the business rescue proceedings of Daybreak Foods. Here, you will find the board resolutions to commence the process, the sworn statement confirming the company's financial distress and the reasons for it, as well as the formal notices sent to the affected parties. You will also find a presentation given at the first meeting of creditors and employees, which outlines the plan for stabilisation and long-term turnaround. These documents are intended to provide transparency and keep all stakeholders informed about the process and progress.

Notice and Circular to Creditors

Circular to Employees Committee, 30 June 2026

This document is a circular from the Business Rescue Practitioner to the Employees Committee, setting out the proposed head office structure and convening a further consultation on 2 July 2026 to conclude the retrenchment process.

Circular to Employees Committee, 29 May 2026

This document is a circular from the Business Rescue Practitioner confirming that agreement was reached with the Employees Committee on the retrenchment of affected employees, and that termination notices would be issued that day.

Labour and Retrenchment Report, 19 May 2026

This document is a quarterly report prepared for the Public Investment Corporation and the Unemployment Insurance Fund in terms of the UIF loan agreement, detailing the Section 189 retrenchment process and the Company's operational labour position.

Circular to Employees Committee, 4 May 2026

This document is a circular from the Business Rescue Practitioner confirming that the retrenchment process at the non-operational divisions has been finalised, outlining the HR support available to affected employees.

Circular to Employees, 24 March 2026

This document is a circular from the Business Rescue Practitioner following the consultation of 20 March 2026, answering employee questions on the March stipend and the steps to follow after termination notices were issued.

Circular to Employees on the Retrenchment Process, 10 March 2026

This document is a circular from the Business Rescue Practitioner confirming that the Employees Committee had aligned on the retrenchment process and that the Company would proceed to issue termination notices.

Circular to Employees on the Suspension of the Chief Financial Officer, 10 March 2026

This document is a circular to all known employees confirming that the Chief Financial Officer was placed on precautionary suspension with effect from 6 March 2026, pending an independent investigation into allegations of gross misconduct and fraud.

Response to Queries on the Draft Termination Notice, 4 March 2026

This document is a letter from the Business Rescue Practitioner responding point by point to the Employees Committee's queries of 24 February 2026 on the draft notice of termination of employment.

Letter to BRP, 24 February 2026

This document is a letter from the Employees Committee to the Business Rescue Practitioner consolidating the questions and concerns raised by employees at the engagement session of 23 February 2026 on the draft notice of termination.

Letter to Daybreak Foods in response to the Company's bumping proposal, 19 February 2026

This document is a letter from the Food and Allied Workers Union to the Business Rescue Practitioner responding to the Company's proposal on the application of bumping in the retrenchment process.

Circular to Employees, 17 February 2026

This document is a circular from the Business Rescue Practitioner replying to the Employees Committee's correspondence of the same date and setting out the consultations held on the material aspects of the retrenchment process.

Employees Committee Response on Bumping, 17 February 2026

This document is a letter from the Employees Committee to the Business Rescue Practitioner responding to his correspondence of 12 February 2026, confirming that employees had unanimously agreed that bumping should not be applied in the Section 189 process.

Circular to Employees, 12 February 2026

This document is a circular from the Business Rescue Practitioner addressing the issuing of termination notices at the non-operational divisions and setting out the Company's position on the application of bumping.

Circular to Employees, 4 February 2026

This document is a circular from the Business Rescue Practitioner reporting progress on the proposed lean operating structure, noting that TERS assistance would not be forthcoming.

Section 189A Notice, 5 January 2026

This document is the formal notice in terms of Section 189(3) read with Section 189A of the Labour Relations Act, advising the Employees Committee that the Company contemplates restructuring and that employees' positions may be affected.

Letter to Employees Committee, 2 December 2025

This document is a letter from the Business Rescue Practitioner on the December 2025 employee payments, confirming that no payment beyond the existing salary arrangements had been promised and that the Company remained financially distressed.

Letter to Employees Committee, 26 November 2025

This document is a letter from the Business Rescue Practitioner confirming an Employees Committee meeting on 28 November 2025 to update the committee on the business rescue proceedings and address matters affecting employees.

Letter to Employees Committee, 17 October 2025

This document is a letter from the Business Rescue Practitioner following the urgent Employees Committee meeting of 16 October 2025, dealing with concerns about the retrenchment process and the payment of the employee stipend.

Circular to All Affected Parties

This document is a circular from the Business Rescue Practitioner of Daybreak Foods, confirming that the amended business rescue plan was adopted by a majority vote of creditors at a meeting on September 26, 2025.

Daybreak Foods Media Statement

This document is a media statement from Daybreak Foods announcing that its business rescue plan has been approved by 99.98% of creditors and outlining the next steps in its turnaround strategy.

Status of Business Rescue Proceedings for Employees

This document is a letter from the Senior Business Rescue Practitioner of Daybreak Foods explaining the impact of the business rescue process on employees, including details on salary payments and the status of the business rescue plan.

Letter to Employees Committee on the Meeting Request, 17 September 2025

This document is a letter from the Business Rescue Practitioner responding to the Employees Committee's request for a meeting, addressing the proposed engagement with the pension fund administrators and confirming that no decision had been taken on the funds.

Amended Business Rescue Plan

This document is the amended first business rescue plan for Daybreak Foods, which outlines three different options for the company's Reactivation Phase and details the updated financial projections, creditor information, and risks associated with the plan.

Response to Employees Committee

This document is a formal letter from the Business Rescue Practitioner of Daybreak Foods to the Employees Committee, addressing their queries regarding stipends, abattoir reactivation, retrenchment timelines, and pension fund contributions.

Letter to Employees Committee, 2 September 2025

This document is a letter from the Business Rescue Practitioner replying to the Employees Committee's queries of 1 September 2025, including the implementation of the stipend and the Company's monthly salary obligations.

Circular to All Affected Parties

This document is a circular from the Business Rescue Practitioner of Daybreak Foods, informing affected parties that the business rescue plan will be amended and that the second meeting of creditors will be adjourned to a later date.

Circular to Employees Committee, 15 August 2025

This document is a circular published in the business rescue proceedings recording that the Company was not in a financial position to pay employees who were not rendering services an amount equal to half their salaries.

Notice of Employees Committee Meeting, 11 August 2025

This document is a letter from the Business Rescue Practitioner confirming an Employees Committee meeting and setting out the agenda, covering August payments, third-party payments, publication of the business rescue plan, and retrenchments.

Letter to Employees Committee, 11 August 2025

This document is a letter from the Business Rescue Practitioner answering the Employees Committee's queries on the pension and provident fund contributions for June and July 2025, including the correction of an incorrectly processed debit order.

Circular Letter to Employees Committee, 29 July 2025

This document is a circular from the Business Rescue Practitioner requesting a meeting on 5 August 2025 to resolve July payroll discrepancies and agree how the August 2025 salaries would be paid.

Letter to Employees Committee, 24 July 2025

This document is a letter from the Business Rescue Practitioner setting out an offer on the treatment of July and August 2025 salaries for employees not rendering services, with working employees continuing to receive full remuneration.

Letter to Employees Committee, 17 July 2025

This document is a letter from the Business Rescue Practitioner responding to the Employees Committee's letter of 16 July 2025 on salary queries and the treatment of claims, including salary processing based on the May payroll data.

Letter to Employees Committee, 9 July 2025

This document is a letter from the Business Rescue Practitioner responding to the Employees Committee on temporary lay-offs and setting out the legal basis of the business rescue proceedings under the Companies Act.

Letter to Employees Committee, 8 July 2025

This document is a letter from the Business Rescue Practitioner acknowledging the formal establishment of the Employees Committee and setting out the intention to engage it on all labour related matters during the proceedings.

Circular, 2 July 2025

This document is a circular published in the business rescue proceedings summarising the labour issues faced by the Company since it was placed under business rescue on 12 June 2025 and the possible solutions to them.

First Meeting of Employees Presentation

This document is a presentation given by the Business Rescue Practitioner for Daybreak Foods at the first meeting of employees on June 24, 2025, detailing the background, recent actions, and the phased plan for rescuing the company.

First Meeting of Creditors Presentation

This document is a presentation given by the Business Rescue Practitioner for Daybreak Foods at the first meeting of creditors on June 23, 2025, detailing the background, actions to date, and the phased plan for rescuing the company.

Notice of Business Rescue Proceedings and Appointment of Practitioner

This document serves as a formal notice to all known affected parties that Daybreak Foods has commenced business rescue proceedings and has appointed Tebogo Maoto as the senior business rescue practitioner

Board Resolution for Business Rescue Proceedings

This document contains the written resolutions passed by the board of directors of Daybreak Foods to voluntarily begin business rescue proceedings on June 12, 2025.

Sworn Statement for Business Rescue Proceedings

This document is a sworn statement from Charlotte Nkuna, a director of Daybreak Foods, confirming the company's financial distress and the board's resolution to voluntarily begin business rescue proceedings.

Daybreak Foods Notice of Business Rescue Proceedings and Appointment of Business Rescue Practitioner

This document formally notifies affected parties of Daybreak Foods (Pty) Ltd’s voluntary commencement of business rescue proceedings in terms of Section 129 of the Companies Act, and confirms the appointment of Mr. Tebogo Maoto as the Business Rescue Practitioner.

Companies and Intellectual Property Commission (CIPC) Notice of Business Rescue

This document is a confirmation from the CIPC that Daybreak Foods (Pty) Ltd. has commenced business rescue proceedings, effective June 12, 2025.

Notice of Appointment of Business Rescue Practitioner

This document from the Companies and Intellectual Property Commission (CIPC) confirms the successful application and appointment of Tebogo Christopher Raymond Maoto as the senior business rescue practitioner for Daybreak Foods (Pty) Ltd., effective June 12, 2025.

Business Rescue Plan

Further Amended Business Rescue Plan

This document is a further amended version of the first business rescue plan for Daybreak Foods, which provides additional details on a proposed employee trust for the broiler farms and updates financial figures and the timeline of events.

First Business Rescue Plan

This document outlines the first business rescue plan for Daybreak Foods, detailing the company's financial distress, the proposed three-phased rescue strategy, and the plans for operational and financial restructuring.

Strategic Equity Partner (SEP)

Daybreak SEP Teaser

This document is a teaser from Park Village Auctions for a potential Strategic Equity Partner to invest in or acquire the business and assets of Daybreak Foods, which is currently in business rescue.

Proceedings and Appointments

Daybreak Foods Notice of Business Rescue Proceedings and Appointment of Business Rescue Practitioner

This document formally notifies affected parties of Daybreak Foods (Pty) Ltd’s voluntary commencement of business rescue proceedings in terms of Section 129 of the Companies Act, and confirms the appointment of Mr. Tebogo Maoto as the Business Rescue Practitioner.

First Meeting of Creditors Presentation

This document is a presentation given by the Business Rescue Practitioner for Daybreak Foods at the first meeting of creditors on June 23, 2025, detailing the background, actions to date, and the phased plan for rescuing the company.

First Meeting of Employees Presentation

This document is a presentation given by the Business Rescue Practitioner for Daybreak Foods at the first meeting of employees on June 24, 2025, detailing the background, recent actions, and the phased plan for rescuing the company.

Status Reports

Daybreak Status Report June 2026

Monthly status report for June, 2026, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

Daybreak Status Report May 2026

Monthly status report for May, 2026, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

Daybreak Status Report March 2026

Monthly status report for March, 2026, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

Daybreak Status Report February 2026

Monthly status report for February, 2026, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

Daybreak Status Report January 2026

Monthly status report for January, 2026, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

Daybreak Status Report December 2025

Monthly status report for December, 2025, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

Daybreak Status Report November 2025

Monthly status report for November, 2025, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

Daybreak Status Report October 2025

Monthly status report for October, 2025, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

Daybreak Status Report September 2025

Monthly status report for September, 2025, providing an update on the Company's hatchery and breeder operations, labour and retrenchment matters, internal and external investigations, technical assessments and compliance, and progress toward the implementation of the adopted business rescue plan.

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