High court finds conglomerate “directly culpable” for insolvency of Peoples Trading Centre after years of trading while insolvent Malawi’s high court has ordered Press Corporation Plc (PCL), one of the country’s largest conglomerates, to pay more than MK7bn (about £3m) to the creditors of Peoples Trading Centre (PTC), the retail chain it once wholly owned, […]
Peoples Trading Centre (PTC) under the SPAR franchise has handed over a mountain bike to the winner of SPAR City Centre festive competition in Lilongwe. Spar City Centre Store Manager Charles Matita presented the bike to the winner Matilda Namondwe on Monday. In an interview People’s Marketing and Communications Manager Chiku Kaphuka said the just […]
Peoples Trading Centre (PTC) or ‘Peoples’, a subsidiary of conglomerate Press Corporation plc has embraced a new business model which will see Peoples Stores being structured into four brand categories based on customer segments. Peoples Chief Executive Officer James Madondo said in an interview that the company has been undergoing a functional review of its […]
Peoples Trading Centre (PTC), a subsidiary of conglomerate Press Corporation Limited (PCL) plc yesterday donated a GOTV decoder with six months paid for subscription to the Queen Elizabeth Central Hospital (QECH) Children’s oncology ward. The donation was made on the commemoration of World Children Cancer Day which is observed on 15th of February every year. […]
The Blantyre Principal Resident Magistrate has sentenced two ex-Peoples Trading Centre (PTC) employees and a businessman to 7 and half years imprisonment with hard labour (IHL) for stealing about K100 million from the company. Principal Resident Magistrate Innocent Nebi jailed Richard Kamunga who was working as Chief Accountant and Clement Michongwe who was working as […]
Peoples Trading Centre (PTC) Limited, a subsidiary of Press Corporation Limited (PCL), one of Malaw’s oldest companies as well as biggest retailer shops is closing down 20 shops as the economic situation gets worse in this tiny landlocked country. PTC chief executive officer Ken Mthunzi told a news conference at PTC headquarters in Blantyre on […]
Malawi’s Vice President Dr Saulos Klaus Chilima recently officially opened the Spar City shop which will be run by Peoples Trading Centre (PTC), a subsidiary of conglomerate Press Corporation Limited (PCL) which has just acquired the Spar franchise. Spar operates in 43 countries and has more than 12,300 shops across the 43 countries. Chilima congratulated […]
Management at one of Malawi’s biggest retailer shops, Peoples (sometimes known as Peoples Trading Centre – PTC) must have learned their lesson well when the Journalists Union of Malawi (Juma) came out last Saturday to criticize the chain store for abusing journalist Gregory Gondwe. The institution was trying to curtail giving its side on concerns […]
Press Corporation Limited (PCL) has started closing down some supermarkets under the group arguing it cannot be borrowing money to pay for the subsidiary’s taxes. The development has left over 1,500 jobs at Metro and PTC supermarket shops as the group of companies has so far closed 16 shops. Over 300 people have been fired […]