The Cold Storage Company has officially come out of corporate rescue, marking a major milestone in efforts to revive Zimbabwe’s largest beef processor after years of decline.
According to a notice published in the Government Gazette, the corporate rescue process — which began in 2020 — ended after the practitioner filed a “notice of substantial implementation” of the company’s turnaround plan with the High Court.
“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 legal notice read. “The corporate rescue proceedings of CSC ended with effect from October 16, 2025.”
Related Stories
This development signifies that CSC has met the key obligations under its debt restructuring and recovery plan, paving the way for the company to regain control from the court-appointed rescue practitioner.
With the process now concluded, operational control of CSC has been handed back to its management and board.
“Any issues relating to the company must henceforth be directed to the company’s management and board,” the notice added.
CSC had endured years of financial distress, struggling with mounting debts, obsolete infrastructure, and dwindling production levels that pushed it close to liquidation.
The end of corporate rescue gives the company a new opportunity to rebuild its operations, restore its market share, and contribute to Zimbabwe’s beef exports once again.
Leave Comments