Truworths Zimbabwe filed for corporate rescue last week, meaning the company that made millions just over 10 years ago now can't pay its bills.
There will be many winners and losers. Let’s unpack the losers, starting with Mega Market - one of the most fascinating companies in Zimbabwe.
Thanks for the comment. I think a lot of companies do revalue their assets. The only challenge is in ZWL terms the valuation would lose meaning pretty quickly.
Chances of Truworths bouncing in the near future are quite slim with way things are going, the informal market is taking over and the nations tax policies are just not favorable for doing business in the formal sector.Out of interest, how is Edgar's doing ?
One question from a carpenter; are some of our local companies not shoring up their balance sheets with asset revaluations?
Thanks for the comment. I think a lot of companies do revalue their assets. The only challenge is in ZWL terms the valuation would lose meaning pretty quickly.
Chances of Truworths bouncing in the near future are quite slim with way things are going, the informal market is taking over and the nations tax policies are just not favorable for doing business in the formal sector.Out of interest, how is Edgar's doing ?
Very interesting read, thanks for sharing.