Struggling textile firm David Whitehead needs funds of ZWD774.80m (US$3.1m) to use as operating capital, according to a report by Standardbusiness.

The company would use the money partly to replace machines at its spinning division Kadoma. It also has a weaving unit in Chegutu and a hosiery plant in Gweru.

"I have estimated that the cost of spare parts, card wires and other inputs will be ZWD374.90m for the Spinning division at Kadoma only," a source close to the developments was reported as saying.

"This will enable the company to run the machines at reasonable level of productivity,
quality and efficiency."

It is currently being decided whether or not the company will be put under judicial management.