Retail concerns, Westend Foodworld Private Limited (Foodworld) and Trade Centre Private Limited, which were placed under voluntary corporate rescue on the 17th of February 2025 under the Insolvency Act [Chapter 6:07], have called their first creditors’ meeting to verify claims.
Rainbow Hotels — Experience Luxury Across Zimbabwe
Rainbow Hotels continues to redefine hospitality standards in Zimbabwe, offering world-class accommodation, fine dining, and modern conference facilities in Harare, Bulawayo, and Victoria Falls.
Whether for business or leisure, Rainbow Hotels delivers unmatched comfort, exceptional service, and a truly premium guest experience tailored to modern travellers.
Book Now
The companies entered corporate rescue due to viability challenges and Mr Alexious Dera of Moore PNA Zimbabwe was appointed as the Corporate Rescue Practitioner on the 25th of February 2025 to oversee the process.
The first creditors’ meeting is scheduled for April 2, 2025, at the Cresta Lodge corner Robert Mugabe Road and Samora Machel Avenue on Harare.
The first creditors’ meeting will focus on discussing the corporate rescue plan, submitting proof of claims and affidavits, and receiving a statement from the Master of the High Court on the companies’ prospects for rescue. Additionally, a creditors’ committee will be appointed to collaborate with the corporate rescue practitioner on behalf of all creditors.
The corporate rescue process aims to help Foodworld and Trade Centre restructure their operations, safeguard the assets, and restore financial stability while ensuring continuity of operations.
