Zimbabwe: Gulliver in Turnaround Drive

18 December 2013

GULLIVER Consolidated Limited is now firmly poised to bring in new equity investors or float a rights issue to raise funding required to clear liabilities to creditors following confirmation of Mr Reggie Saruchera as final judicial manager.Mr Saruchera has been overseeing the recovery process of the company as provisional judicial manager, but will now move a gear up to turn the firm around amid revelations there is "enough interest from prospective (equity) investors".

Gulliver is struggling due to the depressed level of infrastructure development projects in Zimbabwe and was suspended from the Zimbabwe Stock Exchange in June 2012 after failing to produce financial results within the mandatory period.

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