One of Zimbabwe’s biggest and oldest companies, Meilkes’s shares are set to be auctioned through the sheriff of the High Court. Meikles runs Pick n Pay and TM supermarkets retail outlets in the country.
Core Solutions sued Mekles in the High Court over its failure to pay for facilitation fees to help it recover a debt it was owed by the Reserve Bank of Zimbabwe. A notice issued on Friday by LM Auctioneers says:
Duly instructed by the Sheriff of the Court of Zimbabwe, we will publicly auction the following: shares for the following companies, Thomas Meikles Stores, Coffee and Tea Services, Tanganda Tea Company, Tanganda Packers, Thomas Meikles Properties (and) Meikles Hospitality.
All tax charges are paid by the buyer. Buyers should be aware that we will auction any of the listed companies to recover costs.