OK Zimbabwe restocking as suppliers return to shelves

OK Zimbabwe Ltd has begun a major restocking exercise after securing financial guarantees from two leading local banks, allowing the retailer to access critical credit facilities and resume supplies from key manufacturers.

The guarantees have restored supplier confidence, with manufacturers including Dairibord, ZimGold, Olivine, National Foods and Nestlé resuming deliveries and replenishing stocks across the retailer’s stores.

The retailer has also started reopening branches that were closed during the height of its cash-flow crisis as it seeks to rebuild customer footfall and restore its commercial footprint.

The recovery follows an agreement with major trade creditors to defer settlement of legacy debts, giving the company additional liquidity and operational headroom to resume trading.

Corporate Rescue Practitioner Bulisa Mbano confirmed that the debt standstills had provided the breathing space needed to restart store operations.

He said the recovery was still at an early stage, but management remained optimistic about stabilising the business.

More: The Herald

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