Ndalo Media will officially shut down on January 31 2019, company owner Khanyi Dhlomo told her employees on Wednesday.
The media company that owns Destiny, Destiny Men and Elle magazines, among others, has been experiencing cash flow issues, even failing to cover certain operational costs in the past few months.
The empire faces liquidation over a R13 million debt allegedly owed to printers.
The media mogul’s company Ndalo Media was taken to the high court in Johannesburg by CTP Printers last week following her company’s alleged failure to keep up with payments for the printing of her publications, including SAA in flight magazine Sawubona, Destiny, Destiny Man, Elle and Elle Decoration.
The sad news comes shortly after the announcement of Kojo Baffoe rejoining the Ndalo Media team, as returning editor for Destiny Man.
Baffoe had grown the magazine into a leading men’s media brand during his previous four years at the helm. But things have changed since then.
Social media is saddened by the job losses, especially at this time of the year. Workers who have not been paid since October will soon be unemployed.
Many are also disappointed because the media house is known for celebrating black excellence.
— Sbosh (@Bongi_Dhlamini) December 13, 2018
This news on Ndalo Media is heartbreaking. It's the end of an era for sure. 😶😑😔
Trusting Khanyi to bounce back though. She epitomizes #BlackExcellence.
— Salamina Mosese (@salaminaM) December 14, 2018
I feel horrible for my fellow colleagues at Ndalo Media 💔
— Amanda Ndlangisa (@MandyNdlangisa) December 13, 2018