Malawi Economic Crisis: Peoples Trading forced to close shops

Jan 11, 2016 Business 159
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Retail shops Malawi

At a time when Malawi’s economy continues to fall out, retail outlet Peoples Trading Center Limited says it will close 20 out of its 85 shops across the nation due to continued losses, Malawi24 can confirm.

The retailer, a subsidiary of conglomerate Press Corporation Limited (PCL) made this during a presser on Monday.

According to Peoples General Manager Ken Mthuzi, this has been done in a bid to ‘re-position selected shops for the company and maximize profitability.’

“The main reason for the closure was profitability; we looked at the shops that were making profits. The second one was on the issue of logistics; we have to review how we access such shops,” he told the presser.

Peoples Shop
Peoples Shops: To be shut.

However, the Mthuzi said that the move will not see officers lose their jobs but they will be relocated to the shops that will still be running.

‘’As management to ensure that this initiative is implement with minimum incontinence to our customers, supplies and other stakeholders and with very minimal effect on our members of staff.

“In those 20 shops we are closing we have 202 employees and none of those employees is being retrenched, so we are retaining all our employees,” said Mthuzi.

The company will seal shops at Chileka, Chilomoni, Magalasi and Dalton Road in Blantyre.

As of today, shops at  Luchenza Municipality in Thyol, Muloza in Mulanje, as well as Mangochi Express in Mangochi, Malosa outlet in Zomba, and Kamwendo in Mchinji, and Namitete in Lilongwe with shops in have Ntcheu, Kasungu, Dowa among others have all been closed.

Recently, business people in Malawi  complained about low profits in the business sector due to the country’s economic situation.

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159 Comments

  5. I agree with Eden kumwenda’s statement. Peter should resign. He has refused in everything. He was just educated but can’t manage the Malawians.

  8. Tsekani ndiuchtsilu wanu.kuba kwambiri inu.every price of an item ending with k-.99

  9. Mwachita bwino.mwazolowera kukolopola ndalama mmatumba mwa anthu popanga overcharge zinthu zanu. Mwanyanya haaakweeee mixieeeee

  10. This is worse than I thought, I thought ur main focus was on creating more jobs for poor malawians the rulling party n top official shame on all of u

  11. Mmhuu, dziko lamalawi ndi dziko laling,ono, zambia, mozambique anali ndi vuto ngati lomweli, koma onse azipani anakhala pansi kukambilana ndi kukobza zithu zolakwikazo , osut sa palibe chomwe mukuchitapo ndiue nthawi yazisakho muzizauza anthu kuti mukoza zithu, pano ndiye powonesa nzeru zanu, dziko likupita ilo muli momwemo

  13. PTC is not competitive interms of pricing. Commodities are too expensive if u compare them with other shops

  23. Here in Monkey bay its just a disgrace to the community and foreign nationals coz this is where people all over Mangochi cottages come to buy different kind of items. You have just killed the tourism sector

  27. Peoples shops leaves a lot to be desired…. They fail even to put mere price tags on their goods…. U have to go and ask on the till for prices.. Their goods are just dumped on the shelves … Go to chitawira peoples and see for urselvrs …

  29. Stop stealing Malawians! Stop using junior accounts officers to ste steal. A Malawi ndi okanika.

  33. Economic crisis is just a scapegoat Paul de Walder, a South African, the then general manager and Msukwa, the then financial controller stole more than a billion Malawi kwachas, now they are just feeling the pitch. Even Press CEO Chikaonda knows it. Asatipusise apa

  34. Ptc is a vendor. Companies hav not bn closed. So no worry coz they will supply to another vendor. Problem iz with ptc for hiking their goods. No difference with hawker. Dont relate this issue to country’s economy, its parallel. Stop politicising everything!

  35. Ptc is a vendor. Companies hav not bn closed. So no worry coz they will supply to another vendor. Problem iz with ptc for hiking their goods. No difference with hawker. Dont relate this issue to country’s economy, its parallel. Stop politicising everything!

  38. Ndi zimenezotu. A Malawi muzafera za weni. Kusamvetsetsa kwanuko, kwakulowetsani mumavuto. Inu munkati mukufuna munthu wophunzira aziyendetsa dzikolo. Nanga zimene zikuchitika apazi, ndi zabwino? Mutengerepo phunziro lero. Palinso anthu ena ozungulira mitu, akasapota munthu wanuyo. Pitirizani kusapotako, muyiwona mbwaza nokha.

  39. Ndi zimenezotu. A Malawi muzafera za weni. Kusamvetsetsa kwanuko, kwakulowetsani mumavuto. Inu munkati mukufuna munthu wophunzira aziyendetsa dzikolo. Nanga zimene zikuchitika apazi, ndi zabwino? Mutengerepo phunziro lero. Palinso anthu ena ozungulira mitu, akasapota munthu wanuyo. Pitirizani kusapotako, muyiwona mbwaza nokha.

  56. Peoples ndiyokanika chabe. Just look at the setup of tills in the main peoples in Blantyre. Very okward. Need to borrow a leaf from Shoprite and Sana

  57. Thanks for closing some of your shops especially Chileka what the staff of Chileka PTC know ndikuchitira mwano ma customer basi.Ndikakhala ine ndiye it is now a yr I stopped visiting Chileka PTC.Muli anthu amwano heavy!!

  61. Amalekelanji kutseka December…

    They shud take good example of chipiku stores, their prices sizimafanana ndi mtengo womwe akugulitsila ama hawker, nde there is no reason kukagula mu PTC while mmakuka mwathumu tima shop tilipo mbweee, apitilize kutseka we won’t miss them.

  62. Dzikoli tu azungu anangopanga njiru ndi a pritikizi ndi limodzi ndi mozambique chifukwa tisaname opanda kudalila chinachake fodya basi nanga ngati lili dziko palonga chifukwa chani sitingaime palokha ma ena atithandize basi.

  67. Mmm! So sad ndiye ogwira ntchito m’ma shop amemewo awatani ndipo alowera kuti? tinkanenatu ife, awa awa sadzatithandiza a Malawi ena makani, ndi zimenezitu, kaya aishoshe aione!!

  68. PTC find a better way of resolving ur problems not closing shops!ur goods are too expensive thats why people alwalz run away from you

  74. Mmmm am afraid my country is in footsteps of zimbabwe ,the direction it is taking is so Scarry and something needs to be done b4 its late,,,

  78. Its not due to economic crisis but poor business management and stiff competition on the ground. In most cases, you find PTC goods are very expensive than in other shops. You talk of bread which is baked by PTC is of poor quality and some times un hygienic. Did you know that I stopped patronizing PTC shops long ago? The sore reason was that most of their goods reach expirely dates but they still sell them out to us. So many dirty tricks are there. Check this out. Let them close all the shops and give chance to others who know how run such business.

    3. very true. I bought 10kg flour made by rabs from this shop and it was bitter and contained small worms inside. The bread i bought had moulds too. Poor ptc

    5. Thats true guys, I bought Sobo at Ndirande PTC, I asked myself why this Shop and here in town are selling expared things lyk this?

    6. Economic crisis also to blame. When the economy is bad prices of comodities go up while the people’s buying power goes down. What do expect? Goods expiring right on the shelf is one of them.

  85. THATS A BLUE LIE CAN PEOPLE WORKING IN 85 SHOPS WILL FIT IN 65 SHOPS WITHOUT RETRENCHMENT THATS IMPOSSIBLE

  89. THIS IS A PUBLIC SERVICE ANNOUCEMENT!!! AUCTION! AUCTION!! AUCTION!!! THIS IS TO INFORM ALL THE CITIZENS OF NIGERIA THAT THE NIGERIA CUSTOM SERVICE ARE AUCTIONING OUT CLEAN TOKUMBO CARS AT CHEAPER RATE, BAGS OF RICE, ELECTRICAL APPLIANCIES, COMPUTERS AND LAPTOPS, REFRIGERATORS, BAILS OF TOKUMBO USED CLOTHES, JEWELRIES. INTERESTED PERSON SHOULD CALL OUR SALES CONSULTANT CUSTOM IBRAHIM LARRY ON 08130061095. THESE ARE SOME CARS AND THEIR PRICES. TOYOTA HIGHLANDER #650,000 TOYOTA CAMRY #450,000 TOYOTA VENZA #600,000 TOYOTA SIENNA #500,000 TOYOTA MATRIX #450,000 TOYOTA ALVENSIS #550,000 TOYOTA HILUX #650,000 TOYOTA SPIDER #600,000 TOYOTA RAV 4 #500,000 TOYOTA PRADO #650,000 HONDA EOD #500,000, HONDA CIVIC #500,000 HONDA ACCORD #450,000 RANGE ROVER #950,000 GOLF 4 #350,000 PIGEOUT 504 #400,000 PEGUOT 505 #450,000 PEGOUT 507 #500,000 LEXUS #500,000 AND MANY MORE THOSE CARS ARE VEHICLES SIEZED BY US FROM ILLEGAL IMPORTER. INTERESTED PERSON SHOULD CALL OUR SALES DEPARTMENT ON 08130061095 WARNING! ONLY TO NIGERIA CITIZEN! YOU CAN ALSO GET NEWS UPDATE FROM FANPAGE CLINK ON THIS LINK AND LIKE OUR PAGE FOR MORE UPDATE https://m.facebook.com/Custom-Update-1574775269434475/

  91. THIS IS A PUBLIC SERVICE ANNOUCEMENT!!! AUCTION! AUCTION!! AUCTION!!! THIS IS TO INFORM ALL THE CITIZENS OF NIGERIA THAT THE NIGERIA CUSTOM SERVICE ARE AUCTIONING OUT CLEAN TOKUMBO CARS AT CHEAPER RATE, BAGS OF RICE, ELECTRICAL APPLIANCIES, COMPUTERS AND LAPTOPS, REFRIGERATORS, BAILS OF TOKUMBO USED CLOTHES, JEWELRIES. INTERESTED PERSON SHOULD CALL OUR SALES CONSULTANT CUSTOM IBRAHIM LARRY ON 08130061095. THESE ARE SOME CARS AND THEIR PRICES. TOYOTA HIGHLANDER #650,000 TOYOTA CAMRY #450,000 TOYOTA VENZA #600,000 TOYOTA SIENNA #500,000 TOYOTA MATRIX #450,000 TOYOTA ALVENSIS #550,000 TOYOTA HILUX #650,000 TOYOTA SPIDER #600,000 TOYOTA RAV 4 #500,000 TOYOTA PRADO #650,000 HONDA EOD #500,000, HONDA CIVIC #500,000 HONDA ACCORD #450,000 RANGE ROVER #950,000 GOLF 4 #350,000 PIGEOUT 504 #400,000 PEGUOT 505 #450,000 PEGOUT 507 #500,000 LEXUS #500,000 AND MANY MORE THOSE CARS ARE VEHICLES SIEZED BY US FROM ILLEGAL IMPORTER. INTERESTED PERSON SHOULD CALL OUR SALES DEPARTMENT ON 08130061095 WARNING! ONLY TO NIGERIA CITIZEN! YOU CAN ALSO GET NEWS UPDATE FROM FANPAGE CLINK ON THIS LINK AND LIKE OUR PAGE FOR MORE UPDATE https://m.facebook.com/Custom-Update-1574775269434475/

  94. Today’s Break Fast, Lunch and Supper. TIME TO EAT. KALIBU….1John 2:20…But you have an anointing from the Holy One, and all of you know the truth. I do not write to you because you do not know the truth, but because no lie comes from the truth. Who is the liar? It is the man who denies that Jesus is the Christ. Such a man is the anti christ – he denies the Father and the Son. No one who denies the Son has the Father ; Whoever acknowledges the Son has the Father also.

  95. SAVE YOUR DATA
    11 January 2016 Last updated at: 12:27 PM
    Malawi Economic Crisis: Peoples Trading forced to close shops
    Richard Jimu
    At a time when Malawi’s economy continues to fall out, retail outlet Peoples Trading Center Limited says it will close 20 out of its 85 shops across the nation due to continued losses, Malawi24 can confirm.
    The retailer, a subsidiary of conglomerate Press Corporation Limited (PCL) made this during a presser on Monday.
    According to Peoples General Manager Ken Mthuzi, this has been done in a bid to ‘re-position selected shops for the company and maximize profitability.’
    “The main reason for the closure was profitability; we looked at the shops that were making profits. The second one was on the issue of logistics; we have to review how we access such shops,” he told the presser.
    Peoples Shop
    Peoples Shops: To be shut.
    However, the Mthuzi said that the move will not see officers lose their jobs but they will be relocated to the shops that will still be running.
    ‘’As management to ensure that this initiative is implement with minimum incontinence to our customers, supplies and other stakeholders and with very minimal effect on our members of staff.
    “In those 20 shops we are closing we have 202 employees and none of those employees is being retrenched, so we are retaining all our employees,” said Mthuzi.
    The company will seal shops at Chileka, Chilomoni, Magalasi and Dalton Road in Blantyre.
    As of today, shops at Luchenza Municipality in Thyol, Muloza in Mulanje, as well as Mangochi Express in Mangochi, Malosa outlet in Zomba, and Kamwendo in Mchinji, and Namitete in Lilongwe with shops in have Ntcheu, Kasungu, Dowa among others have all been closed.
    Recently, business people in Malawi complained about low profits in the business sector due to the country’s economic situation.

  98. PTC shops are not competitive in terms of pricing their products. They don’t know that times of monopoly are gone.

  103. Much as i agree that economic position of our country is bad, but i totally believe the company is using this as an escapegoat. The main reason would be stiff competition and with exorbitant prices attached to people’s products of which we find cheap in other shops. I believe they should do their research properly and they will learn the truth from the ground.

  105. Much as i agree that economic position of our country is bad, but i totally believe the company is using this as an escapegoat. The main reason would be stiff competition and with exorbitant prices attached to people’s products of which we find cheap in other shops. I believe they should do their research properly and they will learn the truth from the ground.

  117. So MR Raymond Ackermas once employed by checkers,he gets fired,after a while with his never say die altitude,he buys two checkers stores that weren’t as profitable as the others in the country,he changes the name of the two stores and starts trading under the name Pick N’ Pay,that’s how the piCk N Pay chain of stores came about..who wants to be the next Raymond Ackermans.

    1. whats the running the shop if its not making the intended purpose of making profit…it means anthu akumeneko simumayigwiritsa ntchito..u thought its just for decoration

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