Employees of Tuskys Supermarket Limited protest outside the Tuskys Chap Chap branch in Nairobi. PHOTO | FRANCIS NDERITU Three more outlets of the troubled Tuskys Supermarket risk going under the hammer as landlords seek to recover outstanding rent arrears. Garam Investment Auctioneers on Wednesday put a notice in the local dailies and listed three properties […]
File Photo of an Uchumi Supermarket outlet. Beleaguered retailer Uchumi Supermarkets has commenced a fresh audit of supplier bills as the chain moves to ring fence its court approved Company Voluntary Agreement (CVA). Uchumi requires all trade and services creditors to register their debt, accrued before March 2 this year, through an online portal. “The […]
Former Uchumi Head of Finance Chadwick Omondi Okumu Okumu has extensive retail experience having worked with Uchumi as its Head of Finance for eight years. Okumu has also previously served in various finance capacities at Reckitt Benchiser and Keroche Breweries. Okumu will be tasked with lifting Tuskys from the edge of the abyss following the […]
Tuskys Supermarket seems to be headed to a crush and any attempts to try and stop it are hitting the rock. In the last few months, the once thriving retailer in Kenya has been ejected from various malls over failure to pay rent amounting to millions of shillings. “I never knew that a day shall […]
Africa’s largest retailer Shoprite Holdings on Tuesday said it plans to leave Kenya by closing or disposing of its remaining two stores in the year ahead, after only two years of operation in the East African country. According to the retailer, the decision to leave is due to the economic impact of coronavirus (COVID-19) even […]
Pullouts, shutdowns and divestments are almost becoming the new norm for retail chains across Africa, most especially in the eastern part of the continent . The latest in the fold is Deacons East Africa, a fashion brand that has operated in East Africa for up to 60 years. Possible Liquidation The fashion and clothing retailer […]
Once a giant in East Africa’s retail sector, Uchumi Supermarkets is now a pale shadow of its former self. FILE PHOTO | TONNY OMONDI | NMG With another big retailer, Tuskys, teetering on the brink of collapse, stakeholders such as the Kenya Union of Commercial Food and Allied Workers (KUCFAW) are now calling for government […]
The official opening of Shoprite Supermarket outlet at the Garden City in Nairobi on March 21, 2019. PHOTO | DIANA NGILA | NMG Shoprite opened its first supermarket in Kenya at Westgate Mall, Nairobi, in December 2018. The decision to leave Kenya comes a month after Shoprite said it was considering reducing or selling all […]
NAIROBI, Kenya, Sept 14- Fashion and clothing retailer Deacons East Africa Limited is set to shut down its operations in East Africa. This comes even as the NSE listed firm announced the sale of its business and assets after 60 years in the fashion and clothing industry as a result of failure to raise Sh450 […]
Shoprite Holdings announced that it would leave the East African nation of Kenya after entering the market 2 years ago and will be closing 2 more stores. The company announced this on Tuesday, citing the Kenyan business has continued to underperform relative to the return requirements. This comes as Shoprite also announced it would reduce […]
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