Zimbabwe Labour Market Intelligence
Closure at Truworths Zimbabwe Limited
A workplace stops operating, is placed on care and maintenance, or resumes operating after a period of closure.
Prepared 5 October 2026
Industrial Psychology Consultants (Pvt) Ltd
Maximising Returns on Human Capital
Closure at Truworths Zimbabwe Limited
A workplace stops operating, is placed on care and maintenance, or resumes operating after a period of closure.
What happened, in plain words
The clothing retailer went into an insolvency rescue and was sold for one United States dollar to manufacturer Valfin. Its store count had fallen from 101 branches at its peak in 2001 to just 26. It owed unpaid wages of about 624 000 dollars to managers and 444 000 dollars to other workers, and had a negative net asset value of about 2 million dollars. Cheap imports, second hand clothing and the collapse of local textile manufacturing were blamed.
Not stated
People reported
The source did not give a countable number, so none is shown
1 February 2025
Date of the event
high
Confidence in the record
How the number was arrived at
No employee figure reported, only wage debts of 624 000 dollars to managers and 444 000 dollars to other workers
Evidence
| Field | Value |
|---|---|
| Source | NewsDay Zimbabwe |
| Link | https://www.newsday.co.zw/local-news/article/200038456/out-of-fashion-and-on-sale-for-a-dollar-the-fall-of-truworths-and-zimbabwes-retail-turmoil |
| Source last opened by the platform | Never checked |
| Evidence retrieved | 20 August 2026 |
| Fingerprint of the source page | Not taken. The page has not been read successfully. |
| Published by the source on | 1 February 2025 |
| Employer | Truworths Zimbabwe Limited |
| Sector | Retail & Wholesale |
| Where | National |
| Status on this platform | verified |
| Counted in published figures | Yes |
Rescue administered by Oliver Mutasa of Crowe Advisory. Corporate rescue plan also published on the Zimbabwe Stock Exchange website.
The rule this record had to meet
A workplace stops operating, is placed on care and maintenance, or resumes operating after a period of closure.
Evidence required: The name of the site and the operator, the date operations stopped or resumed, and a statement from the operator, a landlord, a local authority or an established publication.
As at 5 Oct 2026, 13:42. Method version unknown.