One of Malawi’s leading retail outlets, Peoples Trading Centre Limited, a subsidiary of conglomerate Press Corporation Limited (PCL), has closed down 20 of its 85 shops across the country as they were registering losses.
The shops closed include Chilomoni, Chileka, Magalasi and Dalton Road in Blantyre, Luchenza outlet in Thyolo, Muloza in Mulanje, Mangochi Express in Mangochi, Malosa outlet in Zomba, Kamwendo in Mchinji, and Namitete in Lilongwe.
People stores at Ntcheu, Kasungu, Dowa, Mzimba, Nkhatabay, Karonga and Chitipa have also been closed.
Peoples Trading Centre general manager Ken Mthuzi told journalists at a press briefing he hosted with some officials from PCL on Monday that the move is meant to reposition selected shops for the company and maximize profitability.
“The main reason for the closure is profitability. We looked at the shops that were making losses. The second one was on the issue of logistics. We had to review how we access such shops,” said Mthuzi.
According to Mthuzi, the decision would have no impact on the number of staff for the business, saying the company has no intention to retrench any of the 202 employees from the closed shops.
“Instead, staff from the affected outlets will be transferred to other branches across the country,” said Mthuzi.
He said the company will also ensure that the closures should have minimum disturbance on customers, supplies and other stakeholders, in addition to the members of staff.