Ambitiouz Entertainment's Kgosi Mahumapelo To Shut Down Bankruptcy Claims With a Big Announcement on Friday

• Ambitious Entertainment has poured cold water on the reports that the record label is on the verge of closing due to financial problems
• The record label's owner Kgosi Mahumapelo debunked the claims and said that he is about to make a major announcement
• This comes after media reports that the controversial label was taken to the CCMA after retrenching some workers

Ambitiouz Entertainment is not going anywhere. The record label's founder and CEO Kgosi Mahumapelo refuted the claims that the controversial label is facing bankruptcy.

Ambitiouz Entertainment owner shuts down rumours

Social media was abuzz with reports that one of the country's biggest record labels was on the verge of closure. According to the reports, sources close to the record label confirmed that Ambitiouz Entertainment is broke and can't keep afloat.

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The sources also revealed that Ambitiouz Entertainment retrenched some employees who took the company to the CCMA, resulting in some of the company's vehicles being repossessed.

Speaking to TimesLIVE, Ambitiouz Entertainment owner Kgosi Mahumapelo said the reports were not true. He said instead of shutting down, they are getting ready to change the South African music industry with a major announcement in a few days.

Kgosi Mahumapelo addresses haters

The owner of Ambitiouz Entertainment also sent a message to those spreading fake news about the record label and hoping for its closure. He said the label is not going anywhere and those peddling the rumours should look forward to seeing his success for another decade. He said:

"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."

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Ambitiouz Records in hot water after employees drag Kgosi Mahumapelo to the CCMA for unpaid salaries

In more entertainment news, Briefly News reported that what was once the entertainment industry's biggest and most wanted record label has become a non-paying employee zone. Ambitiouz Entertainment founder and CEO Kgosi Mahumapelo finds himself in hot water.

Ambitiouz Entertainment employees are gatvol with the record label, they alleged that they haven't been paid for moths.

Source: Briefly News