Ambitiouz Entertainment has responded to claims the company is closing.
This after a close source revealed to ZiMoja the record label was experiencing financial woes and was set to close shop.
According to the publication, the source claimed owner Kgosi Mahumapelo retrenched some staff members and most of the company cars had been repossessed as employees went to the CCMA with grievances.
“We are not shutting down. We are growing and are poised to revolutionise the industry with an announcement,” Kgosi told TshisaLIVE, declining to comment on other speculation.
Ambitiouz Records said they were about to “make a big announcement” on Friday, which will “not just shake but revolutionise the South African music industry”.
“We regret to inform you that you might need to stock up on more popcorn because Ambitiouz Entertainment isn't going anywhere. We're just getting started,
“It's come to our attention that there are whispers and rumours of our imminent closure. To those who've been spreading these tales, we'd like to offer a heartfelt 'nice try'. We're saddened to report that if you were hoping for our exit, you'll have to deal with our fabulousness for at least another decade.”
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