Uchumi Supermarket Plc will hold a creditors and members meeting virtually on Thursday 29th February 2024.
- •This follows a similar meeting held virtually on 30th May 2022.
- •Among other issues, there was a brief on the status of Uchumi supermarket assets disposal and a report of the company voluntary arrangement supervisor as well as voting on the way forward.
- •Uchumi closed down and was placed in receivership in June 2006 after 30 years of business and was de-listed from the NSE.
The agenda for the 29th Feb meeting will be a presentation on the status of the implementation of the company’s voluntary arrangement. The meeting will also ratify the creditors’ committee.
The initial restructuring of Uchumi did not forestall the deteriorating performance of the company.
As a result, on 31st May 2006, the Board of Directors resolved that the company cease operations and on 2nd June 2006, the Debenture Holders placed the company under receivership.
The collapse of Uchumi Supermarket has been followed by that of Tuskys and Nakumatt supermarket, who were also major players in the retail space.
ALSO READ: Uchumi Starts the Process to Clear Outstanding Debt
