Sheriffs in Blantyre have on Wednesday, March 23rd reportedly closed two shops belonging to Peoples Trading Center (PTC).
Information confined to FaceofMalawi has indicated that the sheriffs have taken over Blantyre Metro and Limbe PTC.
“They invaded our shops Wednesday afternoon and demanded that we should all vacate the shops. They have since locked up the two shops,” disclosed one source who opted for anonymity.
PTC’s Chief Executive Officer, Ferdinand Mchacha could not be drawn for comments as he was reportedly in a meeting.
Press Corporation Limited (PLC) has sold 100 percent shares of PTC to Tafika Holdings Limited.
The development comes when frustrated PTC employees are demanding their severance pay.