… As company closes branches, sells properties
Beverly Bizeki
There is fear among employees at Bilcro Investments that the company could close shop due to economic hardships following various activities which have seen some employees being retrenched, allegedly without prior notice to their colleagues.
Some employees who spoke to TellZim News on condition of anonymity said they were worried that the company could close shop as it has been on record for closing branches and selling some of its properties.
“Our concern is that we do not know what the future holds for us when the company is selling properties because this has been our security that we always have something to hold on to in the event that the company closes which is the company property.
“The truck force has been sold leaving behind only a few T35 trucks, as well as some buildings. At times we only get to see adverts of buildings on sale on social media platforms,” said the source.
The sources however said the company was not facing liquidation or viability challenges as the company always manages to sell available stock.
“It is not a liquidity or viability problem that is haunting the company because we are always selling when there is stock available,” said the sources.
Managing Director of Bilcro Investments Richard Billing denied allegations of the company closing shop amid concerns by employees that the company has been on the record for closing branches and unfairly dismissing employees since last year.
In an interview with TellZim News, Billing said the company is only trying to consolidate in the prevailing economic conditions.
“Nothing is changing really but the company is trying to consolidate and adjust in the prevailing economic conditions. We are moving forward.
“We have always kept an open line of communication with our employees hence we would communicate if there is anything , the branches that are closing are the ones which are not performing well so they are rather being closed for purposes of consolidation,” said Billing.
