Uchumi owes us too, says Eveready

Uchumi Supermarkets owes Eveready East Africa Sh. 11 million. This is according to Eveready’s managing director Mr Jackson Mutua.

The debt, according to Mr Mutua, was part of the Sh77 million the company recorded as a loss in 2015. The supermarket chain owes its suppliers more than Sh3.6 billion, while its total liabilities have surpassed its assets by nearly Sh200 million, putting the once successful retailer in a negative equity position.

“Uchumi Supermarket was one of our key accounts, which contributed 60 per cent of our sales,” said Mr Mutua.