Business / Companies
More CSC property goes under the hammer
20 Aug 2015 at 09:51hrs | Views
Struggling Cold Storage Company (CSC) is set to lose more property as Bulawayo City Council is auctioning some items on Friday.
Early July, the company's two thirds of its estimated 600 head of cattle were auctioned in a court-sanctioned auction to settle unpaid wages.
According to a notice on Thursday, Hollands Auctioneers will auction CSC industrial property including one industrial welding machine, one industrial cutter and two ammonia compressors.
CSC's debts have ballooned to over $25 million from $9 million in 2009, mainly from fixed costs such as wages, rates and taxes on land.
Early July, the company's two thirds of its estimated 600 head of cattle were auctioned in a court-sanctioned auction to settle unpaid wages.
According to a notice on Thursday, Hollands Auctioneers will auction CSC industrial property including one industrial welding machine, one industrial cutter and two ammonia compressors.
CSC's debts have ballooned to over $25 million from $9 million in 2009, mainly from fixed costs such as wages, rates and taxes on land.
Source - Byo24News
