Liquidation of Cosira leaves many jobless
The Cosira construction group in Vulcancia announced to its workers last Friday that the company was in the process of liquidation.

This came as a shock to the workers who wanted more information as to why they were not previously informed about the company’s financial problems.
The National Union of Mineworkers of South Africa (Numsa) appointed liquidator Micheal Moloto to address the questions of the workers as well as to inform them on procedures.
“I am aware of the concerns of the people and we will make sure that all the required documents are given to them and all the information that they will need to know. Unfortunately they will lose their jobs as the process will definitely go ahead,” he said on Wednesday.
Moloto made it clear that there were attempts to save the business which failed after major shareholder Jeffrey Mark Wiggle was shot dead three weeks ago.
“Maybe his signature could have changed the fate of the company, but unfortunately he died, so the liquidation will definitely go ahead. Although many will lose their jobs, it is pointless to have people work when there are no funds to pay them,” he added.
Mandla Mvelase had been working at Cosira for eight years and has many questions that he needs answered.
He claims that he is still owed money for the past three weeks of work that was promised to him before the news of the liquidation.
The main question he kept asking was whether or not he would be paid what was promised to him prior to the events of Friday.
“I want to know how I am expected to carry on with my life without a job. We were told, with no prior warning, that our work was terminated and that the company was closing,” said Mvelase.
Many of the workers’ main concern is the issue of letters from the liquidator stating that the company is under liquidation.
“What proof will we give the bank that the company is closing? The letter of termination from human resources will not be accepted by the bank. At least give us that,” he demanded.
According to Moloto the process of liquidation can take as long as a year before being finalised.
“We cannot estimate correctly as to when the final stamp of approval has been set. The process still has to go through the high court, a liquidator must be appointed and many other factors need to be looked at that can take time,” he said.
Human resources manager John Rauncivell assured the workers that they would receive their required documents pertaining to their UIF and pension fund, as well as the letter of termination on Monday outside the company premises.
Cosira shareholder Andy Bertulis was unavailable to comment but referred the African Reporter to Megan Bell of the First Tech Group, of which he is also a shareholder.
“There will be intense meetings in the next two days to establish important factors. At this moment we will not be able to comment until details have been finalised,” she said.