This archive report was first published on 23 October 2019.
Published on October 23, 2019, Choppies, a struggling Botswana retailer, has resorted to a fire sale to dispose of dead stock and focus on fast-moving consumer goods to manage a cash crunch at the business.
According to a notice in the dailies, Choppies, through Dyer and Blair, is seeking to sell the inventory, inviting bidders who are required to make a refundable deposit of Sh10 million.
However, the retailer has disowned the notice, stating that it has not struck any deal to sell the electronics, even as it continues to shut down its branches amid mounting debts.
Choppies has been under intense cash flow crisis, resulting in the closure of three branches and the dismissal of 200 workers this year.
When contacted for comment, Parin Patel of Choppies stated, 'No, we do not have any agreement with anyone to sell.'
