Troubled Mastermind Tobacco (K) Ltd has issued notice of termination of contracts of about 1,000 employees four days after the cigarette maker was pushed into administration by I&M Bank over undisclosed debt.
The firm owned by the estate of the late tycoon Wilfred Murungi stopped cigarette production six months ago (June) and was later put under administration from December 14, adding to a growing list of struggling businesses hoping for rescue under the formal insolvency process in a difficult operating environment.
