Hewlett-Packard (HP) has closed its shops in Kenya and the entire East Africa region.
The company held an annual general meeting earlier this month and came up with a decision to halt operations in the entire East Africa region.
Counterfeit products and a hostile business environment are among the reasons as to why the company closed its businesses.
Stiff competition from Chinese companies that manufacture cheap products is another reason.
The notice to wind up was then sent out and published in the local media last week.
Reports indicate that George Weru and Muniu Thoiti of P.O. Box 43963 – 00100 Nairobi had been appointed as joint liquidators.
“Creditors of the company are required on or before October 9, 2020, to send full particulars of all the claims they may have against the company to the undersigned, the joint liquidators, personally or by his advocates, to come in and prove their debts or claims … or in default thereof, they may be excluded from the benefit of any distribution made before such debts are proven,” said the notice.
Mr George Weru, PricewaterhouseCoopers (PwC) Business Recovery Services Partner said the company did not close because of debts.
According to him, the firm was conducting some internal changes that prompted the winding up.
“HP East Africa is a dormant subsidiary of HP and is being liquidated as part of internal re-organisation,” he is quoted by The standard as saying.
Source: The Standard
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