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Former manager once fabricated receipts
20 November 2023 | 13:34

Almost three weeks since home-grown retailer Enrich Stores was closed and it is still not clear as to when it will reopen. On Saturday November 04, Moosa Group of Companies, landlord to Enrich Stores, closed the latter’s doors due to an outstanding M800 000 in rent.

Established in 2020, Enrich Stores is Lesotho’s first publicly owned chain store founded by four National University of Lesotho (NUL) graduates. More than 200 people own at least 15 shares of the company.

One of the company’s Board members Mr. Katleho Mofo confirmed that the shop is still closed but indicated that he cannot divulge much as the Board has resolved that they have to elect representatives to talk to the media.

Meanwhile the High Court of Lesotho has issued notice of movable property belonging to Enrich Stores on December 01, 2023 following the judgement of the same court on September 12 and the writ of execution date October 18, 2023. The movable property is 2012

Earlier this year, the company was on the verge of closing down on allegations that the management was working hard to bring it down because of bad financial decisions. The supermarket experienced stock shortages of approximately M1 million at one point, resulting in a loss of approximately M1 million. Among others, employee theft also became a big issue, with more than five employees arrested and fired on theft charges.

According to the company’s chairperson’s report dated April 15, 2023, a former manager once fabricated receipts and stole almost M170,000 from the store’s accounts. The supermarket’s first rental month after its establishment was January 1, 2020, and it cost M126 500. This came after the company paid a M461 000 security deposit for the lease signing. According to reports, it was agreed that the rent would increase by 8% every year. To date, the company has paid the landlord over M6.5 million.