Turnall on the brink of bankruptcy

Turnall on the brink of bankruptcy
Published: 12 January 2018
Roofing and piping products manufacturer, Turnall Holdings, has approached the RBZ seeking a $10 million bailout package it requires to retire toxic debt.

Turnall is saddled by a $15 million debt, which is now affecting viability and nearly drove the company into seeking voluntary de-listing from the ZSE amid going concern uncertainties.

However, its rescue facility may only be secured if Turnall demonstrates realistic chances of maintaining profitability, which it achieved sometime last year after cutting workers' salaries.
- Business Weekly
Tags: Turnall,


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