iIPC Jobs

Closure at Truworths Zimbabwe Limited

A workplace stops operating, is placed on care and maintenance, or resumes operating after a period of closure.

verified

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

FieldValue
SourceNewsDay Zimbabwe
Linkhttps://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 platformNever checked
Evidence retrieved20 August 2026
Fingerprint of the source pageNot taken. The page has not been read successfully.
Published by the source on1 February 2025
EmployerTruworths Zimbabwe Limited
SectorRetail & Wholesale
WhereNational
Status on this platformverified
Counted in published figuresYes

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.

Read thisWorkforce events are a record of what a named and citable source reported. They are not a census of job losses or job creation in Zimbabwe. Many changes in employment are never announced, and small employers are almost never reported at all, so the picture here leans towards large employers, listed companies, the public service and unionised sectors. Read the evidence link on any event before relying on it.

As at 5 Oct 2026, 13:42. Method version unknown.