Picfare Group of Companies, which is engaged in stationery and printing in Uganda, has dismissed reports that it is on the verge of closure.
Richard Mubiru, the company’s Corporate Affairs Director, explained that they are winding up some entities within the group, which are dormant.
“Such entities include: Picfare Trading Co. Limited, Picfare Jinja Limited among others as detailed in The Monitor Newspaper of Wednesday 07/12/2022,” Mr Mubiru said.
“The Group would like to clarify as follows: (i) that the companies being wound up in accordance with the Law have been DORMANT. As such, with the view to ensuring compliance with the law, these are formally being closed for better compliance,” he said.
Mr Mubiru explained that other group companies like Southern Range Nyanza Limited, Picfare Industries Limited and Hooky Property Developers are fully functional and shall remain serving Ugandans as always.
“There is therefore no need to be worried of missing out on any of the Group brands/services. Lastly, the Group is eternally grateful for the business support over the years that explain the raging debate on social medial. The Group will continue serving you even better,” he added.
Founded by Mr Kishor Jobanputra, who is also the board chairman, the company has been engaged in stationery and printing in Uganda since 1981.
