Connect with us

Business News

Auctioneers now pounce on Tuskys Supermarket – Kenyan Business Feed

Published

on

Loading...


Dan Githua, Tuskys CEO. He has been accused of mismanagement.

Tuskys supermarket has entered a new struggling phase as auctioneers advertised its properties for sale.

In an advertisement in the dailies yesterday, Legacy Auctioneers announced that the items will be sold to recover over Sh12 million rent arrears owed to its client. “We have moved and secured some of the items and kept them at the basement,” said a source at the auctioneers

The items include a generator, fridges, gas and electric cookers, blenders, television sets, water dispensers,assorted clothing and footwear and other household items.

Tusker mattresses has been under fire with its mismanagement brought to the fore by the slow down of the economy due to COVID-19 pandemic.

Tuskys was ordered by the Competition Authority of Kenya (CAK) to pay suppliers in June, they honoured that in time. However, a problem in shareholding nearly derailed the ‘seeking to sell’ a stake to raise funds for the sustenance of the supermarket.

The retail chain now seeks Sh2 billion capital injection to stay afloat.

Loading...
Auction advertisement

Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]


Comments





Source link

Loading...
Advertisement
Loading...
Comments
Loading...

Facebook

Loading...

Trending