Textile Mills ordered to convene creditors’ meeting for recapitalisation deal

THE High Court has ordered Bulawayo-based Textile Mills (1947) Limited, which is under Judicial management, to convene a creditors’ meeting to discuss recapitalisation measures, which may include the leasing of some of its properties, among other strategies to resuscitate its operations.

Bulawayo High Court judge, Justice Martin Makonese gave the order on December 7, saying the meeting should be held today at the judicial manager’s offices in the city.

Judicial manager, Tapiwa Chizana had filed a court application seeking an order granting the meeting.

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