Hit by a negative net assets position of N23.2bn, PZ Cussons Nigeria Plc said it is under pressure to settle its debt to the core investor, PZ Cussons Group, suppliers and other providers of credit and it may consider selling its assets if minority shareholders frustrate its proposed minority shares buyout.
PZ is battling with the depreciation of the naira and a decrease in volumes of approximately six per cent overall resulted in an operating loss of N73.8bn for the first six months of the 2023/2024 financial year.
