Biscuit firm Britania Foods Limited has been put under administration in a bid to craft a strategy to recover suppliers' and creditors' money. In a public notice, the company withdrew the powers of its directors and appointed Peter Kahi of PKF consulting to take charge of the firm. ''With the appointment, the powers of the administrator extend to all assets and undertaking of the company,'' the notice read in part. The firm had sent a statutory demand to Britania on July 8 last year following back and forth between the two companies over the debt. Britania owes Uzuri Foods a total of Sh17.3 million with the principal debt owed at Sh14 million, while Sh3.3 million in interest has accumulated over two years.

Source: The Star August 17, 2021 09:33 UTC