Laftaz lounge and restaurant located at Centenary Park, Kampala has been sold off to a new investor.
Laftaz has been struggling over the past couple of years. On some days, the bar even lacked beer.
The bar was at peak point five years ago, when it hosted comedy nights.
When the comedians shifted to other bars, they lost clientele. Disagreements and mismanagement of funds are some of the other reasons that led to its downfall.
It is reported that one the Directors who was one of the biggest shareholders misused money from the hangout by investing in a former Swangz female artiste who later dumped him.
He also used travel to the US to watch Formula One and also go for exotic vacations around the world.
The bar started defaulting rent for months and couldn't pay workers well.
The bar was co-owned by Jonathan Kyeyo, Dolibondo and Napoleone Emma. The new owner is not yet known.
