Metro Peech briefly shuts down

METRO Peech & Browne Wholesalers (MPBW) has shut down for a month as it prepares to receive a US$13,5 million corporate rescue  capital injection to kickstart profitability.

In September, the company was placed under corporate rescue under Oliver Mtasa of Crowe Advisory (Private) Limited (OMCAPL) after it became technically insolvent  following years of poor financial performance.

As of the end of August, the firm had net liabilities of approximately US$12 631 411, against total assets of US$6 071 723.

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