Surprise! Uchumi Supermakets is full again
Uchumi has been hunting for a strategic partner to pull it out of its debt hole, which had seen most suppliers stop stocking its stores
Uchumi shuts stores for restocking, AGM called off
The listed retail chain has been struggling financially, which has seen many suppliers shun doing business with it resulting in empty shelves.
Uchumi Supermarket cuts losses by Sh1bn
However, the cash-strapped retailer, which had posted a loss of Ksh 2.84 billion in the previous financial year, saw its net sales dip by 60% to Ksh 2.59 billion from last year's Ksh 6.42 billion