After Nakumatt, Uchumi collapse looms

Uchumi workers at a past protest over delayed salaries. The retailer now wants the government to support a plan dubbed the Company Voluntary Arrangement (CVA). FILE PHOTO | NATION MEDIA GROUP

What you need to know:

  • Ailing retail chain seeks urgent bailout in battle for survival as fortunes dwindle.
  • Uchumi says the other alternative will be liquidation, which it argues will be of no benefit to the unsecured creditors.
  • It is also staring at the loss of the Lang’ata Hyper through a forced sale by UBA Bank.

Uchumi Supermarket could be on the verge of a painful death just months after Nakumatt exited the market.

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