Lewis allegedly still breaking the law. Share price collapses on debt report

Also read the following related articles:

* Major breaches of National Credit Act at Lewis furniture stores exposed

* National Credit Regulator takes aim at Lewis after claims of illegal action

Lewis Group’s share price is collapsing, and a report by David Woollam, Director of Summit Financial Partners, seems to be the catalyst.

This follows allegations that the furniture store have committed major breaches of the National Credit Act (NCA).

The Money Show’s Bruce Whitfield interviewed Woollam.

Scroll down to listen to the audio.

Lewis is one of the worst examples of exploiting people and taking advantage of their lack of financial literacy.

David Woollam, Director of Summit Financial Partners

I’ve done a lot of “mystery shops” in my life. The one at Lewis was horrifying.

David Woollam, Director of Summit Financial Partners

Extended warrantees at Lewis are mandatory and this is against the law.

David Woollam, Director of Summit Financial Partners

I blew the lid on this a month ago yet Lewis is still breaking the law.

David Woollam, Director of Summit Financial Partners

I have faith that the regulator will complete what I started.

David Woollam, Director of Summit Financial Partners

I’ve been campaigning for many years for this industry to reform itself.

David Woollam, Director of Summit Financial Partners

This industry has sacrificed sustainability for short-term profit.

David Woollam, Director of Summit Financial Partners

This article first appeared on 702 : Lewis allegedly still breaking the law. Share price collapses on debt report


CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
6 tips on how to avoid overspending this festive season

6 tips on how to avoid overspending this festive season

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

DStv subscriber? ANN7 thanks you for the payday!

DStv subscriber? ANN7 thanks you for the payday!

Bruce Whitfield interviews Outa’s Wayne Duvenhage about his open letter to MultiChoice, who will pay ANN7 R245 million.

‘People believe there’s going to be a rapid economic turnaround’

‘People believe there’s going to be a rapid economic turnaround’

The Money Show’s Bruce Whitfield interviews independent Africa analyst Ronak Gopaldas.

How to start a career (or business) with no experience, money or support

How to start a career (or business) with no experience, money or support

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

National Credit Regulator takes aim at Lewis after claims of illegal action

National Credit Regulator takes aim at Lewis after claims of illegal action

The NCR has referred Lewis Stores and Monarch Insurance to the National Consumer Tribunal.

Major breaches of National Credit Act at Lewis furniture stores exposed

Major breaches of National Credit Act at Lewis furniture stores exposed

An undercover investigation has exposed major breaches of the National Credit Act by Lewis furniture stores.

Popular articles
Is taking items from the hotel room stealing?

Is taking items from the hotel room stealing?

Tsogo Sun Cape regional manager explains which items are free to be taken home by guests and why.

Why SA lost the Rugby World Cup bid: 'It is all about the money'

Why SA lost the Rugby World Cup bid: 'It is all about the money'

Stephen Grootes spoke to rugby writer and commentator Andy Capostagno.

Soldiers detain Robert Mugabe

Soldiers detain Robert Mugabe

Grace Mugabe may have fled to Namibia. Bruce Whitfield interviews political commentator Rashweat Mukundu.

I think we are going to witness a coup d'état in slow motion - Zim journalist

I think we are going to witness a coup d'état in slow motion - Zim journalist

According to reports in Zimbabwe, the military has taken over and has been making public announcement since Tuesday night.

WATCH: Innovative spray limits toilet flushes and saves water

WATCH: Innovative spray limits toilet flushes and saves water

Loo Me is a simple yet effective scented foam that takes the yuck out of "mellowing" toilets preventing multiple flushes.