The healthcare provider announced in a memo to staff, it has started the winding-up process since it can no longer meet its obligations to employees and creditors in a timely manner.
“The company’s parent AAR Healthcare Holdings is no longer willing to support the financial requirements of the company (AAR Healthcare Tanzania Limited) and it is on this basis that the Board of Directors have resolved to initiate a creditors’ voluntary winding up process,” said AAR Healthcare Limited acting chief executive Andrew Rowell.
The winding up process involves converging a meeting of the company’s creditors to formally agree on appointing liquidators.
The creditors meeting is set to take place on April 22.
Mr Rowell assured staff their employment contracts remain intact and business operations would continue uninterrupted pending the creditors meeting.
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