Uchumi lays strategy to exit Uganda market

Uchumi supermarket in Uganda. The supermarket has filed for bankruptcy in Uganda as it moves to contain losses from claims by suppliers, employees and creditors arising out of a decision to close it’s subsidiary. PHOTO | NATION MEDIA GROUP

What you need to know:

  • Uchumi Supermarket has filed for bankruptcy in Uganda as it moves to contain losses from claims by suppliers, employees and creditors.
  • Market analyst, Mr Al Khan Satchu, termed the move as clever since it would safeguard its Uganda properties as well as its Kenya operations after making incessant losses.
  • In the papers before the Uganda court, Uchumi’s board of directors blamed low sales, stocks and fraud for collapse of the operation.

Uchumi Supermarket has filed for bankruptcy in Uganda as it moves to contain losses from claims by suppliers, employees and creditors arising out of a decision to close it’s subsidiary.

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