Uchumi Supermarkets Plc has received a boost in its recovery efforts after the High Court's Commercial Division approved the Company’s Voluntary Arrangement. The payment plan will be implemented over a number of years, according to the CVA filed in Court. “The decision gives us a chance to implement our recovery plan. As part of the CVA, Uchumi will look into new business models including but not limited to implementing digital strategies, moving into the convenience store model and adopting cost leadership strategies. Owen Koimburi, the legally appointed insolvency practitioner, will implement the CVA.

Source: The Star July 06, 2020 19:52 UTC