15 January 2018

Zambia: Post Liquidator Moves in for Final Kill

Liquidators of The Post Newspapers have moved in for the final kill putting the property on sale.

Provisional liquidator Lewis Mosho opened up the gates to the once mighty Post Newspapers showing off the property and enticing would be suitors with a US$1, 6 million offer for the premises that sits in the uptown suburb of Rhodes Park.

The memo is out that the liquidator will pay out the money to former employees and also other creditors.

Recoveries manager Robert Chabinga hosted a media breakfast to generate hype around the sale of the premises that housed the 26 year old newspaper that was the largest circulating publication.

The Lusaka High Court through judge Sunday Nkonde declared the company insolvent proving to be the last nail in the Post Newspapers coffin.

On June, 21 2017 the Zambia Revenue Authority seized property halting operations at The Post Newspaper Printing Plant in Lusaka which marked the beginning of the end.

ZRA officers raided the Post Newspaper's printing plant locking up the printing plant and seized property thereby grounding to a halt the newspaper's operations.

ZRA took over accounts, cash and property and state police took over security.

At the paper's newsroom at the Bwinjimfumu office, ZRA officers locked up newspaper staff and some clients as they executed their action.

This followed the Supreme court's ruling in favour of ZRA n a case in which the High Court granted a stay of the ZRA's levy of distress on the Post Newspapers.


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