Published: 10 July 2013

Lifestyle Holdings Limited seems to be feeling the heat of its massive branch expansion after recently closing a number of outlets in Harare and adjacent towns.

The furniture group  has over the past few months closed down its First Street/Nelson Mandela, George Silundika, Speke Avenue and Borrowdale branches, apparently to realign operations. Lifestyle's holding group is to be registered in Mauritius to avoid capital raising constraints associated with "Zimbabwe’s risk profile".

The group also plans to close down its Victoria Falls branch, with Beitbridge next on the list.

But group chief executive Tawanda Nyambirai on Monday said the group would not continue to scale down its branch network.

Yet a climb-down might be inevitable because of shrinking disposable incomes.
- news