OneStep Trading (Pty) Ltd, the operators of the Food Lovers Market franchise at Gateway Mall, have introduced the closure of the enterprise on account of financial challenges.
In a press release addressed to suppliers, the corporate cited extreme overseas alternate shortages and declining client disposable earnings as main components behind the choice. Despite efforts to maintain operations, the enterprise had been incurring important monetary losses at an unsustainable price, main shareholders to cross a decision to wind down operations in an orderly method.
The firm assured stakeholders that administrators and administration are dedicated to a structured and accountable closure course of, with a deal with defending the pursuits of suppliers and stakeholders. They have pledged to have interaction with suppliers individually to debate excellent obligations and viable options throughout this transition.
“We appreciate the support and partnership you have provided over the years and deeply regret the impact this closure may have on your business,” the assertion learn.
Food Lovers Market was a key grocery retailer in Gateway Mall, recognized for offering contemporary produce and high quality meals merchandise. Its closure highlights the continued challenges companies are dealing with in Malawi’s financial atmosphere.
For additional inquiries, the corporate has suggested stakeholders to achieve out to its representatives, Mr. Bukhosi Sibanda and Mr. Lloyd Malola, for discussions on the best way ahead.
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