A NEW management is set to take over Spar Zimbabwe in an exercise, which is expected to take three months to finish.
BY BUSINESS REPORTER
This comes as the once leading retail chain has been forced to close some of its stores nationwide due to the worsening economic environment.
Spar last week said the new management would take over ownership of the Spar Zimbabwe licence from Innscor Africa.
“Spar Zimbabwe, the Spar licence holder, historically owned by Innscor Africa, is in the process of being taken over by new management. This transition should be concluded within the next three months,” Spar Zimbabwe said.
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“Some Spar stores have sadly closed their doors and this is just a reminder of the current economic situation, where several company closures have been witnessed throughout our country.”
Spar Zimbabwe said its independent retailers have been serving their local community with convenience, freshness and well-priced groceries every day for over five decades.
The Spar stores, previously owned by Innscor, were effectively taken over by the new owners on the January 1, 2016. These stores are Letombo, Village, Bridge, Golden Stairs, Mutare and Queensdale. The new management also took over SPAR Braeside and Montagu.
“Spar would like to remind its customers that there are still over 30 Spar stores around the country available for your shopping needs,” the franchise said.
Spar Zimbabwe works closely with Spar International members to ensure standards are maintained and also suit the local environment.
The Spar franchise operates in over 46 countries around the world.