HomeNewsKingstons property attached over $19m debt

Kingstons property attached over $19m debt


The deputy sheriff in Harare has attached property belonging to former leading stationery provider Kingstons Limited over a $19 million debt.

On Thursday NewsDay witnessed several truckloads of property, including computers, printers, desks, chairs, cabinet files and sofas being taken away from the company’s headquarters along Nkwame Nkrumah Avenue.

The Deputy Sherrif started moving the property on Wednesday and returned on Thursday.

Sources at the company told NewsDay that all the furniture in the company’s chief executive officer’s office was taken away while other senior managers also had their offices swept clean.

One of the company’s former regional managers, Caleb Sithole, who left the company after a clash with members of top management, is reportedly one of the people suing the company for breach of contract.

“The situation is very bad. The CEO (Brian Sedze)’s office was yesterday (Wednesday) totally cleaned,” said a source at the company.

“The sofas, desk, computers and everything went. They only left a television set which was taken yesterday,” said a source at the company.

It could however not be established who the other creditors were.

Kingstons business development executive Nyaruviva Nyaruvira referred to the board.

Contacted for comment Kingstons board chairperson Millicent Mombeshora asked for questions in writing.
She had however not yet responded at the time of going to print.

At its peak, Kingstons used to operate 24 branches countrywide. While the number of branches currently operational could not immediately be ascertained, Kingstons is still showing signs of distress as evidenced by the poor stockholding of stationery at most of its bookshops countrywide.

Kingstons, partly owned by the government, had 18 vehicles attached by First Mutual Limited last year over a $130 000 debt.

The company has been struggling to pay its workers for several months while the deputy sheriff is said to have been constantly knocking at its doors as impatient creditors resorted to attaching property.

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