July 10, 2021 Peter Makossah - Nyasa Times 1 Comment
An on-going assessment of operations for the financially –struggling AHL Group has revealed how, one of its once competitive subsidiary, Malawi Leaf Company Limited (MLCL) lost millions of dollars due to unreliable international deals that ended up in exorbitant lawsuits.
MLCL is now in deep financial stress after posting a loss of about K44 billion and the board is contemplating to either close down the company or have it revived but with a better business model.
A mother carrying her baby on her back while working in tobacco fields in Kasungu. Picture by ILO
Ficklen Hotel to Open in North Carolina
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Texas is back in business. After nearly a year of various shutdowns and restrictions designed to slow the spread of the deadly Covid-19 virus, Texas Gov. Greg Abbott announced last week the reopening of Texas businesses and the end of the statewide mask mandate. Abbott’s executive order goes into effect today, and allows any Texas business to open to 100 percent capacity should they so choose. Across the Lone Star state, cigar shops contacted by
Cigar Aficionado welcomed the return of normalcy while expressing caution for their customers.
“We’re strongly recommending that customers still wear masks,” says Keith Rumbo, co-owner of Club Humidor in San Antonio, Texas. “We won’t make you wear a mask the customer won’t be forced out if they don’t have a mask but we’re not going to risk it. Our employees will still be masked up.”
PETERSBURG - A New York-based developer has purchased the Star Lofts at 16 S. Market Street in Petersburg.
Mercer Street, purchased the Star Lofts for $7.3 million. The 66-unit building sits on 3.55 acres of land in Petersburg s downtown. It has one and two-bedroom loft-style apartment units. We have had success in the Petersburg market as part of our larger investment focus within the Richmond MSA where we own nearly 700 apartment units, said Mercer Street Managing Partner Joe LeVine via email. We believe Petersburg shows exceptional promise and we are excited to play a small part in its continued growth.
The building was originally built as a tobacco manufacturing facility for Star Tobacco in 1922, a company which once employed more than two-thirds of the city s workers. The owner later relocated to Richmond in 2010 and the building was converted into apartments in 2013.
A group of Greenville businessmen on Tuesday announced plans to transform a historic tobacco warehouse into a food and lodging destination that is the fourth hotel project in the works downtown.
The Stark Group plans to rehabilitate the E.B. Ficklen and Star Tobacco warehouse site which borders Eighth, Ninth, Washington and Ficklen Streets as well as some surrounding property.
Three of the buildings will house the 70-room Ficklen Hotel, said Kimberly L. Christner of Cornerstone Hospitality, which will manage the property once it is opened. The facility will feature a restaurant, lobby and 10,000-square-foot event space. The adjacent Star Warehouse will host a 76,000-square-foot food hall and market. Construction is expected to begin in the spring and the opening is set for the fall of 2022.
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