CLOTHING firm, Edgars Stores Limited managed to double its USD-denominated retail debtors’ book to US$12,6 million in the 52 weeks trading period to 7 January 2024 as high interest rates in local currency rendered ZWL$ credit unsustainable.
The group introduced USD credit sales for its customers in 2022.
Prior to that, credit sales were in local currency and its debtors’ book kept the company going during covid-19 pandemic lockdown as most customers settled their instalments on time.