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Lovemore Zigara, Midlands Correspondent
MEIKLES Limited has put on ice its proposed expansion plans under its Meikles Mega Market brand citing a slowdown in the economy.

The listed concern had announced plans to open three more branches in Kwekwe, Kadoma and Harare where it already operates three branches.

Meikles Mega Market general manager Mr Panganai Ngorima said in an interview that the company would resume the projects subject to improvement in economic outlook.

“We have put on hold our expansion plans mainly due to the depressed economic environment brought about by the liquidity crunch among a host of variables. We will only begin the expansion process when it is prudent to do so.

“At the moment our main focus is to ensure that the existing branches fare well in the market,” he said.

Meikles Mega Market was introduced to cater mainly for the low end income bracket through a hybrid model, which offers retail and wholesale services.

The retail chain deals in foodstuffs, basic household goods, personal care and beverages among others.

In 2015 alone the retail chain opened three branches in Gweru, Bulawayo, and Mutare as the retail chain sought to assert itself as a force to reckon with in the retail market. The retail chain has six outlets across the country.

Meikles Africa has also been on a rebranding exercise of its TM retail stores to Pick n’ Pay following a partnership with the South Africa’s retail giant.

The South African supermarket chain and Meikles Limited have shareholding in TM Supermarket with the latter having a 51 percent controlling stake while the South Africans own 49 percent.

— @lavuzigara1