BEITBRIDGE-BASED bakery, Tagarira Brothers (Pvt) Ltd, which was placed under judicial management this year, is set to reopen next week and has set a target of 5 000 loaves a day. MTHANDAZO NYONI OWN CORRESPONDENT
Tagarira Brothers’ judicial manager, Chrispen Mwete of C Mwete and Company told Southern Eye Business yesterday that the firm, trading as Donlight Bakery, would resume operations next Wednesday.
“Everything has been put in place and on Wednesday next week we would be doing the official opening,” he said.
“We are targeting to produce 10 000 buns and 5 000 loaves of bread per day. This is very possible because we have efficient machinery.”
Mwete said the company was placed under judicial management because of mismanagement of finances.
The firm owes creditors more than $400 000.
Tagarira Brothers is one of the companies in Matabeleland that were placed under judicial management this year due to the deteriorating economic situation in the country.
The High Court placed 10 firms in key industries under judicial management and about three under provisional liquidation. Economic analysts have said the situation was exacerbated by a serious liquidity crunch afflicting the economy, high cost of utilities as well as aggressive taxation by a dollar-hungry government.
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Firms placed under judicial management include Marvo Stationery, Wet Blue Industries, Lowveld Cotton Ginner, Romsdal Investments, Chakata Resources Zimbabwe, Tagarira
Brothers, Setsail Equipment, Observant Enterprises, Hadad Enterprises, Willsgrove and Savanna Wood.
Lasker Brothers, makers of the Archer brand of shirts, Trade Power and Wenbrough were placed under provisional liquidation.
