Judicial managers, local investor in talks to revive Marvo Stationery

EFFORTS to revive struggling Bulawayo firm, Marvo Stationery Manufacturers, are still ongoing with indications that the judicial manager was in talks with an unnamed local investor wishing to pour in $1,5 million to revive production.

Marvo Stationery was placed under judicial management in September 2014, as it struggled to settle a debt of about $2,5 million accrued after failing to pay its creditors and a huge wage bill backlog.

Several efforts to revive the company fell through, with judicial manager, Chrispen Mwete of C Mwete and Company, saying foreign investors were pulling out because of lack of clarity on dividend repatriation.

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