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Sithandazile Moyo Business Reporter
HOUSEHOLD furniture and appliances retailer Pelhams is closing its branch in Bulawayo and merging operations with its sister company Bradlows.
A notice posted outside the shop advised customers that the shop was relocating its operations to Bradlows on 31 July. Accounts would be transferred to Bradlows.
Also pasted on the premises was a notice from the building’s estate agent calling for prospective tenants.
A worker at the company said they were moving out due to high rentals.
The building is owned by the National Railways of Zimbabwe Contributory Pension Fund.
“It is true that the shop is closing because rentals have gone up. We realised that the overheads were too high and all our profits were going to pay rentals.”
He said the relocation would not result in job losses.
“We are taking our staff with us because we are going to need them. The stocking at Bradlows will be different so we will need more manpower.”
The shop is part of the listed Pelhams Limited group which recently posted a $1,7million loss in the financial year ending 31 March from a profit of $1,5 million the previous year.
Online Reporter