Uchumi delays release of results for third year in a row

Uchumi Supermarket CEO Mohamed Ahmed Mohamed. PHOTO | SALATON NJAU | NMG

What you need to know:

  • The troubled retailer’s CEO Mohammed Mohammed on Tuesday said it is planning to reach out to the Capital Markets Authority (CMA) to request an extension of the publication period.
  • Mr Mohammed attributed the delay to the ongoing winding up petition against the company by creditors claiming an estimated Sh900 million as per court filings.

Debt-ridden retailer Uchumi Supermarkets will for the third year in a row delay the announcement of its full-year financials after the October 31 deadline passed without release of the results.

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