BREAKING: Peoples close down 20 loss-making shops, to retain staff

Post was last updated: January 11, 2016

One of the leading retail outlets, Peoples Trading Center Limited, a subsidiary of conglomerate Press Corporation Limited (PCL) has closed down 20 of its 85 shops across the country as they were registering losses.

Peoples General Manager Ken Mthuzi told journalist at a press briefing he hosted with some officials from PCL on Monday that the move is meant to re-position selected shops for the company and maximize profitability.

“The main reason for the closure was profitability; we looked at the shops that were making profits. The second one was on the issue of logistics; we have to review how we access such shops,” said Mthuzi.

According to Mthuzi, the decision would have no impact of the number of staff for the business, saying the firm has no intention to retrench any staff member.

According to Mthuzi, instead, staff from the affected outlets will be transferred to other branches across the country.

“It is our intention as management to ensure that this initiative is implement with minimum incontinence to our customers, supplies and other stakeholders and with very minimal effect on our members of staff.

“In those 20 shops we are closing we have 202 employees and none of those employees is being retrenched, so we are retaining all our employees,” said Mthuzi.

Some of the shops closed included in at Chilomoni, Cheleka, Magalasi and Dalton Road in Blantyre. The firm has also closed its Lucheza outlet in Thyolo, Muloza in Mulanje, as well as Mangochi Express in Mangochi, Malosa outlet in Zomba, and Kamwendo in Mchinji, and Namitete in Lilongwe.

Other districts where the firm has also closed shops include Ntcheu, Kasungu, Dowa, Mzimba, Nkhatabay, Karonga and Chitipa.

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