By Mthandazo Nyoni
Struggling Bulawayo firm, Merlin, has been given up to June 30 to secure an investor or face liquidation.
The iconic manufacturer risks joining other big companies that went under in Zimbabwe’s second city over the past decade, a new report has revealed.
Merlin survived liquidation over a decade ago and was placed under judicial management for a third time in December 2011.
Cecil Madondo of Tudor House was appointed judicial manager.
Merlin, established in 1954 and owned by business tycoon, Delma Lupepe, requires $30 million fresh capital spread over a period of five to 10 years to be brought back to life.
Lupepe took over Merlin in 2004 through his investment vehicle, Maydeep Investments (Private) Limited, after …
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