Uchumi to close loss-making outlets, sell assets in recovery plan

Uchumi Supermarkets has announced radical changes to its operations, which include closing down several outlets and selling a Sh2 billion plot in Kasarani in its newest plan to steer clear of financial troubles.

This development comes as it became clearer that unpaid dues owed to suppliers may have been understated by up to Sh1.8 billion. Uchumi directors yesterday announced a 20-acre parcel of land along Thika Road had been placed on the market and its disposal would place the giant retailer in an ‘extremely good position’.