Merlin judicial manager pleads with shareholders

MERLIN judicial manager Cecil Madondo has pleaded with company shareholders to withdraw court cases or risk the company's total shutdown.Once listed among the largest textile companies in the country,...

By Staff reporter | Published: 12 February 2019


Merlin finalising $5m funding facility with govt

TEXTILE company, Merlin, expects to finalise arrangements on the $5 million funding facility from government in the next "few" weeks, an official has said.In his progress update report presented at th...

By Staff reporter | Published: 17 July 2018


Zamco pledges Merlin bailout

THE Zimbabwe Asset Management Corporation (Zamco) is in talks with Merlin Limited shareholders over a possible bailout that will assist the company to acquire new equipment to operationalise its new b...

By Staff reporter | Published: 20 June 2018


Merlin seeks to dispose of obsolete, non-core assets

TEXTILE giant, Merlin, has filed a High Court application seeking to dispose obsolete and non-core assets to raise additional working capital.The Bulawayo-based company, which presently is under judic...

By Staff reporter | Published: 15 May 2018


Merlin viable, says judicial manager

TEXTILE firm, Merlin Limited, which is emerging from the woods, says it needs an estimated $17.1 million to set up a ginnery that is expected to add impetus to its survival in the long-term.The compan...

By Staff reporter | Published: 04 April 2018


Merlin seeks $5m working capital

BULAWAYO-BASED textile firm, Merlin has applied to Government for $5 million financial assistance as working capital in the short to medium term.Presenting the company's progress report to creditors i...

By Staff reporter | Published: 30 March 2018


Merlin eyes $30m investment

TEXTILE company, Merlin, says it is still engaging foreign investors who have expressed interest to invest $30 million into the company and is confident that the transaction will succeed.The company's...

By Staff reporter | Published: 22 March 2018


Merlin secures 306t dyeing contract

TEXTILE giant Merlin, which is under resuscitation, has secured a contract to dye 306 tonnes of yarn from a local company.The Bulawayo-based firm, which was placed under judicial management in 2012, i...

By Staff reporter | Published: 05 March 2018


Merlin seeks removal from judicial management

BULAWAYO-BASED textile firm, Merlin will later this year apply for removal from judicial management once an agreement with an unnamed institutional investor for $30 million capital outlay is reached.T...

By Staff reporter | Published: 26 February 2018


Indonesian firm eyes Merlin

AN unnamed Indonesian investor has expressed interest in investing $30 million into textile concern, Merlin, as working capital over five years, NewsDay has established.According to the minutes of the...

By Staff reporter | Published: 02 February 2018


Merlin readies to resume production

TEXTILE manufacturing concern, Merlin has stockpiled 25 tonnes of yarn at its factory in Bulawayo as it prepares to resume production next month.The company suspended production long back and has been...

By Staff reporter | Published: 23 January 2018


Merlin recruits ex-workers

BULAWAYO-BASED textile concern, Merlin has embarked on a gradual re-employment of ex-workers having so far engaged 60 employees from the maintenance department as it re-opens.The manufacturing firm, w...

By Staff reporter | Published: 11 January 2018


Merlin re-opens

BULAWAYO-BASED textile giant, Merlin has re-opened following the implementation of a business rescue strategy involving immediate injection of $2.1 million minimum working capital by one of the firm's...

By Staff reporter | Published: 08 January 2018


Ray of hope for Merlin

STRUGGLING Bulawayo firm, Merlin, yesterday received a consignment of raw materials, thereby raising hopes for workers that the company will soon resume operations after being defunct for a decade.Ne...

By Staff reporter | Published: 01 December 2017


Debt to equity plan for Merlin

THE judicial manager of troubled Bulawayo-based textiles firm, Merlin (Pvt) Limited, will this week present a report to creditors in which he is proposing the conversion of debt into equity.The move i...

By Staff reporter | Published: 19 October 2017


Merlin postpones creditors' meeting

THE High Court in Bulawayo has postponed Merlin's creditors and members' meeting to October 18. The creditors and members' meeting was supposed to be held at the High Court in Bulawayo yesterday.In an...

By Staff reporter | Published: 28 September 2017


Merlin pins revival hopes on SEZs initiative

DEFUNCT textile firm, Merlin is set to tap into the Special Economic Zones model following its proposal to establish a ginnery expected to add impetus to the firm's survival when it re-opens.Under the...

By Staff reporter | Published: 06 September 2017


Merlin ready to resume operations

DEFUNCT textile firm Merlin Limited has expressed readiness to resume operations on a joint venture basis and hopes to exit judicial management within 12 months of operations.The Bulawayo-based entity...

By Staff reporter | Published: 29 August 2017


Mudenda advises Merlin to make diapers not napkins

ONE of Bulawayo's iconic textile firms, Merlin, needs a total overhaul of its production model so it can be turned around, Speaker of the National Assembly Jacob Mudenda has said.Addressing delegates ...

By Staff reporter | Published: 04 July 2017


Merlin seeks $3 million capital injection

Closed Bulawayo based textile firm, Merlin, requires a minimum capital injection of $1,2 million to survive insolvency, the company's judicial manager has said.The firm was placed under provisional j...

By New Ziana | Published: 11 December 2013

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