Meat processor. The Cold Storage Company Limited’s (CSC) turnaround strategy, officially endorsed by stakeholders on April 15, 2025, has paid off, resulting in the company coming out of the corporate rescue plan.
The Cold Storage Company Limited (CSC) faced a rough patch and in December 2020 it was placed under a corporate rescue plan due to severe financial distress. Mounting debts and a lack of investor confidence threatened the company’s survival.
The intervention of the affected parties has finally paid off. The corporate rescue plan ended on 16 October 2025.
The outgoing corporate rescue practitioner, Crispen Mwete, announced in an official statement that the plan’s substantial implementation had been recognized by the courts, marking the official end of the proceedings.
“Notice is hereby given pursuant to Section 125 (2) of the Insolvency Act [Chapter 6:07] that a notice of substantial implementation of the corporate rescue plan of CSC, adopted by affected persons on April 15, 2025, has been filed with the Master of the High Court.
The corporate rescue proceedings of CSC ended with effect from October 16, 2025,” read the statement
Control has now been fully returned to CSC’s management and board of directors, signaling renewed independence and accountability.
According to the statement, any outstanding or new matters relating to the company should now be directed to its leadership team, rather than the former rescue practitioner. This handover is a clear sign that CSC has regained its footing and is charting its path forward without external oversight.
