Moyo restaurants in trouble?

Moyo brand of restaurants have commenced voluntary business rescue proceedings on October 1.

04 Oct 2013

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According to Fin24 the South African restaurant group moyo have commenced voluntary business rescue proceedings.

THe article states that the directors of Gootspa Investments and its trading subsidiaries, which trades under the moyo brand, hope this strategy will enable the moyo restaurants to contintue with "business as usual".

"Business rescue affords protection for all key stakeholders’ interests in the business to be understood and protected whilst the optimal solution for all involved is determined," the group said.

"The prospect of preserving employment for over 600 employees and revitalising the business to return to its long term goals is precisely what was envisaged when business rescue legislation was passed some two years ago."

The eight moyo restaurants are situated in the Western Cape, KwaZulu-Natal and and Gauteng.

The moyo group of restaurants, which describe themselves as a unique destination for a modern, sophisticated African experience have long been a favourite destination for locals and tourists visiting South Africa.

With traditional African menu selections served a la carte or buffet style the moyo experience includes traditional face painting, tables set in tree-houses, sweeping sea views and other typical African experiences.

The group has expanded the number of restaurant outlets rapidly over the past few years with the latest addition opening at the Kirstenbosch Botanical Gardens.

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