Operations at Uchumi Supermarkets have ground to a halt as legal suits by creditors stall turnaround efforts.
The disputes have weakened the retailers ability to cash in on the busy festive season, winding up another dismal year for Kenyas pioneer chain store.
Following various litigation matters concerning the solvency of the company and the lease agreement on Uchumis headquarters offices, the company has been unable to successfully conduct the financial audit for the year ended June 30, 2018, said a statement from the board of directors.
Uchumi is currently fighting a legal battle instituted by creditors including Crown Industries, Euromat and United Bank for Africa that want the supermarket declared insolvent and its assets put u…
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