OneStep Trading (Pty) Ltd, the operators of the Food Lovers Market franchise at Gateway Mall, have announced the closure of the business due to economic challenges.

In a statement addressed to suppliers, the company cited severe foreign exchange shortages and declining consumer disposable income as major factors behind the decision. Despite efforts to sustain operations, the business had been incurring significant financial losses at an unsustainable rate, leading shareholders to pass a resolution to wind down operations in an orderly manner.

The company assured stakeholders that directors and management are committed to a structured and responsible closure process, with a focus on protecting the interests of suppliers and stakeholders. They have pledged to engage with suppliers individually to discuss outstanding obligations and viable solutions during this transition.

"We appreciate the support and partnership you have provided over the years and deeply regret the impact this closure may have on your business," the statement read.

Food Lovers Market was a key grocery store in Gateway Mall, known for providing fresh produce and quality food products. Its closure highlights the ongoing challenges businesses are facing in Malawi's economic environment.

For further inquiries, the company has advised stakeholders to reach out to its representatives, Mr. Bukhosi Sibanda and Mr. Lloyd Malola, for discussions on the way forward.