By A Correspondent |Petroleum mogul and managing director of Sakunda Holdings Kuda Tagwirei has announced that one of his subsidiary, Sakunda Logistics, is closing shop.

The company will permanently close down on December 31 and the company cited irrecoverable losses over the past four years.

In letter dated November 30 and authored by the company’s finance and human resources director (S Mpunga), the employees were notified of the imminent closure and their terminal benefits will be communicated individually.

“I regret to notify you all that Sakunda Logistics will be permanently closing down as we have suffered irrecoverable losses over the past four years.

“We are sorry to notify you that your jobs with Sakunda Logistics terminates in one month0n 31 December 2018,” read part of the letter.

“We express our deepest gratitude to all of you for your dedicated service at Sakunda Logistics.We wish you the best in all your future endeavors,” further read the letter.

This development might come as a blow to Command Agriculture where, Sakunda was one of the companies from the private sector that was funding the programme.

efforts to get a comment from Kuda Tagwirei were in vain as his mobile phone was not reacheable.