Universal Components on recovery path

Last year the company struggled to pay its employees as the company executives said that they did not have funds to remunerate them.
In an interview, the director of the company, Mr Derry Bartman, said they were recovering and the company was not closing shop.
“We have recovered and this year we are working on something and currently we are waiting for people from South Africa who want orders and they are supposed to be coming in the country any time from today.

“At the moment I cannot give further details but all I can say is we are working on re-establishing our company,” Mr Bartman said.
In December last year, it was alleged that the company executives were not sure if they would be able to re-open after the annual shut down due to financial constraints.

The company has been struggling to pay employees since July last year.
Mr Bartman attributed the under-capitalisation of his company to accounts that were frozen in banks during the Zimbabwean dollar era though the workers insisted that orders were continually coming in.

Mr Bartman said most of the orders that were coming in were on credit terms and some companies were taking too long to pay up.

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