By ETimes
HARARE – THE corporate rescue proceedings for state-owned Cold Storage Company (CSC) have ended, according to a legal notice, a milestone for the revival of the once-moribund beef processor.
The rescue process, which began in 2020, was concluded 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 the provisions of Section 125 (2) of the Insolvency Act [Chapter 6:07] that, a notice of substantial implementation of corporate rescue plan of CSC adopted by the affected persons on the 15th of April 2025 having been filed with the Master of High Court in terms of section 144 (8) of the Insolvency Act, the corporate rescue proceedings of CSC ended with effect from 16th October 2025,” the legal notice stated.
The corporate rescue plan was adopted by creditors and other affected parties on April 15 this year. Its substantial implementation means the company has met the key requirements of its debt restructuring and recovery strategy, allowing it to exit court-led protection from its creditors.
With the process complete, control of the company has now reverted to its management and board.
“Any issues relating to the company must henceforth be directed to the company’s management and board.”
CSC had struggled with years of unprofitability, pushing it to the brink of liquidation amid demands from creditors.
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