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”Benin Market” in cessation of activities

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The Benin Market-African Transactions Company (BMSAT) Sarl, specializing in general food and miscellaneous is in cessation of activities.
Users and other residents have already noticed this for several weeks. The ”Benin Market” food supplies no longer open their doors in the city of Cotonou and its surroundings. The reason is very simple. The Benin Market-African Transactions Company (BMSAT) Sarl is in cessation of activities.
Negatively impacted by economic difficulties due to chronic slump, ”Benin Market” recorded loss-making results. Its turnover fell significantly, causing operating losses.
The Company’s difficulties increased with the outbreak of Covid-19 and because of cases of theft committed by employees.
From consistent sources, the summary financial statements for the years 2018 to 2020; the analysis of the evolution of turnover and operating income from 2016 to 2020 no longer allows the maintenance of the Benin Market-African Transactions Company (BMSAT) Sarl in economic activity.
The Company leaves a slate of debts vis-à-vis its suppliers (12,065,959 FCFA), its staff (13,171,2879 FCFA); taxes (2,502,871 FCFA) and 4,600,000 FCFA in unpaid rent.
M.M.

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