The popular fast food joint, Eat n Lick, finds itself in a sticky situation as it faces the imminent loss of its property due to a debt debacle involving a vital ingredient sourced from a local company.
Eat n Lick is on the verge of parting ways with its property after failing to settle a debt totalling US$65,000 owed to Zatex Investments, the local supplier of potatoes essential to most of their dishes.
Zatex Investments, represented by their lawyer Edwin Hamunakwadi from Hamunakwadi and Nyandoro Law Chamber, approached the High Court when Eat n Lick failed to honour their financial commitment as stipulated in their agreement.
On July 24, High Court Judge Justice Manzunzu decreed that the parent company of Eat n Lick, Golden Crust Private Limited, must settle the US$65,000 debt owed to Zatex Investments.
However, the tale took a twist as Eat n Lick only managed to muster a payment of US$20,000, leaving a substantial balance of US$45,000. In response, Zatex Investments once again approached the courts.
Fast Food Chain’s Property To Be Auctioned To Settle Debt
This consequential move led to the issuance of a writ of execution against the properties belonging to Eat n Lick. The Sheriff was duly instructed to seize and hold the aforementioned properties, effectively casting a shadow of uncertainty over the fast food establishment’s fate.
“You are required and directed to attach and take into execution the movable goods of GOLDEN CRUST (PRIVATE) LIMITED t/a Eat n’ Lick the abovementioned defendant, of 177 Chinhoyi Street, Harare and of the same to cause to be realised the sum of sixty five thousand united states dollars (US$65 000.00) together with interest thereon at the prescribed rate from the date of issue of the summons to the date of full payment, which it recovered by judgment of this Court on the 24h day of July 2023 in the above-mentioned suit, and also all other costs and charges of the said plaintiff in the said suit to be hereafter taxed according to law, besides all your costs thereby incurred and further to pay to the said plaintiff or its legal practitioners the sum or sums due to them with costs as above mentioned,” reads the writ.