Bid to block KFC�s liquidation fails

Friday, September 02, 2016

Airport Junction KFC.PIC: MORERI SEJAKGOMO

High Court Judge, Michael Leburu this week confirmed the final liquidation of KFC Botswana paving way for the entity to be sold to the highest bidder after its former franchisee, VPB Propco failed to convince him that the franchise holder and its related companies can still carry on business and pay their debts.

Despite VPB, through its proprietor Anthony Siwawa, putting up a fight to save the business from final liquidation, Leburu pronounced it just and equitable for the operation to be wound up considering that its franchise agreement has been terminated while it has also failed to service a P41 million FNBB loan among other creditors.

FNBB, through CEO Steven Bogatsu had petitioned for the final liquidation of VPB Propco and three other related companies, which Siwawa was contesting.

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Bid to block KFC�s liquidation fails