Uchumi Supermarkets stares at auction over Kshs 67 million debt

There was commotion at Uchumi Supermarkets headquarters on Tuesday when a supplier went to serve the retailer with a 15-day auction notice over a pending debt.

Euromart Limited obtained a court order to auction property of Uchumi Supermarkets to recover Kshs 67 million it claims is owed by the retailer.

Euromart Limited through Kiriiyu Merchants Auctioneers was at the listed retailer’s premises to serve the notice.

However, the management of Uchumi Supermarkets told the auctioneers that they needed to provide details of the claim and documentations so that the two parties can engage on settling the issue.

Euromart Limited is targeting to auction property at Uchumi Supermarkets head office and the Ngong Road outlet to recover a Kshs 67 million it claims the retailer failed to pay after supplying a wide range of imported goods five years ago.

Documents presented by the auctioneers showed that Euromart Limited obtained a court order on Monday from the Commercial and Admiralty Division to auction the retailer’s property through the merchants.

The court directed that Euromart Limited serves the retailer a 15-day notice before auctioning the said property to recover the Kshs 67 million then report back to the court on progress made on 16th of next month.

  

Latest posts

KTDA to declare tea bonus rates from next week

Beth Nyaga

This mobile x-ray service firm helps reduce cost by up to 30pc

Ronald Owili

KETAWU wants contracts of 4 KPLC Directors terminated

Hunja Macharia

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More