New owners of People’s Trading Center, Tafika Holdings, have terminated a franchise with Spar.
The franchise allowed seven shops in Blantyre and Lilongwe to have the Spar branding and products including a food lovers shop in Lilongwe.
Tafika Holdings Executive Chairperson Arson Malola says running the franchise was expensive as one of the agreements was that 40 percent of products sold in the shops should be imported from South Africa.
Malola says Spar branded shops will not be closed but rebranded to PTC.
Press Corporation Limited sold PTC to Tafika Holdings Limited IN March this year. The move came as for years the franchise has been struggling to raise capital for smooth running of its operations, which led to closure of many of its stores.