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Gafsons liquidates defunct companies

Jan 22, 2013 News

Gafsons, the major hardware conglomerate, has decided to liquate defunct companies, after shareholders saw no need to keep them in existence.
In notices published in the Guyana Chronicle, it was announced that A. Gafoor and Sons (1982) Limited, National Investments Limited and Plastic Products Limited would be wound up voluntarily.  The decision was taken at an extra-ordinary general meeting of the companies on December 18, last.
Mr Harry Noel Narine, Chartered Accountant of PKF, Barcellos, Narine and company was appointed liquidator with respect to all three companies.
Narine, in an invited comment, confirmed that the three companies are defunct.
The companies have not been in operation for years and were previously used by the Gafsons group to serve the business interests. For example, one of the companies was used to import products which the company would then sell.
The liquidation of the companies is not expected to affect in any way operations of the Gafsons Group of Companies which employs an estimated 1,000 persons.
The Gafoors have been in the hardware business for over 50 years and have sought to diversify operations over the years.
They got their break in 1957 when Premier Cheddi Jagan abolished the licensing requirements for the importation of most goods, and Gafoor started importing from Romania, Czechoslovakia, Poland and East Germany.
Now, the company has main operations at Land of Canaan and Plantation Houston with branches across the country.

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