Many companies in Kenya are downsizing or closing shop. Hundreds of private companies have been dissolved in the last six months painting a grim picture of the tough economic conditions currently facing enterprises in Kenya.
As of August 2019, the country’s Registrar of Companies had listed some 388 companies as having been dissolved between March and August.
To join the list is The Southern Sun Mayfair Nairobi. The hotel has faced increased competition over the past decade. They reported that by end of January the hotel will be closing and all the employees contracts have been terminated.
“Tsogo Sun Hotels confirm that the Southern Sun Mayfair Nairobi in Kenya will not renew its lease and will officially cease operations on the January 31, 2020,” the company said in a response to queries by the Business Daily.
“Employee contracts have been terminated after due consultation. All staff have been provided with the necessary support aligned with the labour laws.” they added.
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