Jaggers Msasa, which closed in 2010 and had turned into a “white elephant”, is set to receive a new lease of life, as it is scheduled to re-open its doors under the management of Meikles Limited.
Plans are already underway to convert the giant structure into a mega Pick’n Pay Supermarket. In store refurbishments have begun.
Meikles finance director Onias Makamba on Tuesday said Old Mutual was on the ground renovating the facility.
“We don’t have a date yet when we will be opening, but Old Mutual the landlord, is doing the work,” Makamba said.
“We will have the supermarket customised to our needs. Some of Jaggers employees will be accommodated when we open the supermarket.”
Meikles Limited will this month open its first Pick’n Pay TM Supermarket in Kamfinsa. The company plans to refurbish six supermarkets in the country this year. Jaggers Msasa closed down in April 2010 following the takeover by businessman Cecil Muderede under the guise of indigenisation policy that compels companies to cede 51% to locals.
Muderede failed to continue operating the store as the company owed many creditors money. In 2011 Jaggers Wholesale’s assets were put under the hammer to recover $443 795 owed to beverage manufacturer Delta Beverages.
The wholesale closed down 11 branches out of the 52 branches it had in the country as a cost-cutting measure.
At least 1 000 Jaggers Wholesalers employees are struggling and still trying to access their pensions.
Some of the affected branches include those in Chipinge Chitungwiza, Graniteside, Mutoko, Filabusi and Bulawayo.
Pick’n Pay received approval from the Reserve Bank of Zimbabwe, Competition and Tariff Commission and Youth Development Indigenisation and Empowerment ministry to up its stake in TM Supermarket to 49% last year.