News / Regional
Judicial manager 'locks Mphoko out of Merlin'
31 Mar 2016 at 00:35hrs | Views
ACTING President Phelekezela Mphoko could not tour the defunct clothing firm Merlin (Pvt) Limited in Bulawayo yesterday after the judicial manager, Cecil Madondo, reportedly refused with the keys to the Belmont premises, key shareholder Delma Lupepe said.
A distraught Lupepe could not hide his frustration in an interview with Business Chronicle during a tour of companies by the Acting President.
"The Acting President wanted to tour our company but the judicial manager is refusing. I contacted him yesterday and he is refusing with keys to my company. The place is still locked," said Lupepe.
"He (Madondo) says he wants a written letter from the Acting President or to be called by his office. This is a deliberate frustration of progress."
Last week the prominent business tycoon said Merlin would be re-opened in the next three months riding on closure of recapitalisation deals he said the firm had clinched with unnamed investors.
Lupepe claimed Madondo, who is based in Harare, "hasn't been to Merlin for the last three years".
The giant firm has remained defunct after being placed under provisional judicial management in 2011.
"This isn't the first time that there have been tours by top government officials and Merlin has been denied that opportunity by the judicial manager," said Lupepe.
"The other time I met Japanese investors who wanted to tour the company and he (Madondo) suggested that I should be accompanied by security guards in my company."
The MP for Mpopoma-Pelandaba, Joseph Tshuma, who was part of the delegation accompanying the Acting President, also accused the judicial manager of frustrating Merlin's re-opening.
"As legislators in Bulawayo we're disgusted that at a time when we're trying to revive Bulawayo industries there are some stupid people who work against progress," said Tshuma.
"I've talked a lot about reviving Bulawayo in Parliament and we want the presidency to assist us but the judicial management system is letting us down."
Business executive Siqokoqela Mphoko said the incident was unfortunate.
"The visit by the Acting President is an opportunity for companies here to state their problems to the leadership. It would have been nice for the Acting President to also visit dead companies like Merlin, Cotton Printers and the ailing G&D to find out how they could be assisted," said Mphoko.
"It's a pity that a whole judicial manager would stall investment in Bulawayo. Companies like Merlin can employ up to 2,000 people at full capacity."
Initial plans to rescuscitate Merlin stalled last year after interested groups and some creditors clashed over the appointment of Madondo, who has been accused of allegedly failing to come up with a turnaround strategy.
Madondo could not be reached for comment on his mobile phone.
The judicial manager, according to Lupepe, has also failed to present a progress report to shareholders and the Master of High Court.
Lupepe has said paperwork for the revival of Merlin was being concluded. The firm is set to adopt a revised business model that will include the manufacturing of diapers and sanitary ware.
A distraught Lupepe could not hide his frustration in an interview with Business Chronicle during a tour of companies by the Acting President.
"The Acting President wanted to tour our company but the judicial manager is refusing. I contacted him yesterday and he is refusing with keys to my company. The place is still locked," said Lupepe.
"He (Madondo) says he wants a written letter from the Acting President or to be called by his office. This is a deliberate frustration of progress."
Last week the prominent business tycoon said Merlin would be re-opened in the next three months riding on closure of recapitalisation deals he said the firm had clinched with unnamed investors.
Lupepe claimed Madondo, who is based in Harare, "hasn't been to Merlin for the last three years".
The giant firm has remained defunct after being placed under provisional judicial management in 2011.
"This isn't the first time that there have been tours by top government officials and Merlin has been denied that opportunity by the judicial manager," said Lupepe.
"The other time I met Japanese investors who wanted to tour the company and he (Madondo) suggested that I should be accompanied by security guards in my company."
"As legislators in Bulawayo we're disgusted that at a time when we're trying to revive Bulawayo industries there are some stupid people who work against progress," said Tshuma.
"I've talked a lot about reviving Bulawayo in Parliament and we want the presidency to assist us but the judicial management system is letting us down."
Business executive Siqokoqela Mphoko said the incident was unfortunate.
"The visit by the Acting President is an opportunity for companies here to state their problems to the leadership. It would have been nice for the Acting President to also visit dead companies like Merlin, Cotton Printers and the ailing G&D to find out how they could be assisted," said Mphoko.
"It's a pity that a whole judicial manager would stall investment in Bulawayo. Companies like Merlin can employ up to 2,000 people at full capacity."
Initial plans to rescuscitate Merlin stalled last year after interested groups and some creditors clashed over the appointment of Madondo, who has been accused of allegedly failing to come up with a turnaround strategy.
Madondo could not be reached for comment on his mobile phone.
The judicial manager, according to Lupepe, has also failed to present a progress report to shareholders and the Master of High Court.
Lupepe has said paperwork for the revival of Merlin was being concluded. The firm is set to adopt a revised business model that will include the manufacturing of diapers and sanitary ware.
Source - chronicle
