Businesswoman Khanyi Dhlomo’s Ndalo Media will officially shut its doors for good come January 31.
The news circulated on social media after Dhlomo told her employees on Wednesday.
This comes after Kojo Baffoe joined the team as editor for Destiny Man magazine recently.
The media company, which owns Destiny and Destiny Man, has been on a financial uphill.
According to reports, the company had even struggled to pay staff salaries on time. Staff were not paid for November and Dhlomo promised staff would get paid on December 7 instead of November 25. The staff were paid on December 6.
“Given just where we are and the various conversations we’ve had, I’ve decided to close down this company effective as of the 31st of January next year ,” Dhlomo was heard saying in an audio recording.
The company had faced liquidation over a R13 million debt owed to its printers.
“Today is going to be the day one of notice, so this is the proposed notice of redundancy which each person in this company is going to get,” said Dhlomo, referring to a document which was being handed to staff.
“And what we’ll do is allow everyone 30 days, which will take us to about the 17th of January to look at this [and] go through it. If you have thoughts and ideas about how this process could be handled, you have the next 30 days or so to think about [it].”
Dhlomo reassured employees that paying salaries was her top priority.