Uchumi has had a bad reputation over the years regarding the financial ability to sustain profitability. Last year, it survived a court petition to wind up after several creditors held that it owed them close to Sh300 million. The latest scandal will send stakeholders crying to the bank because there is no waking up from a Sh67 million debt. The current situation of Uchumi can be likened to that of a patient fighting for life in an Intensive Care Unit. Even as it continues denying the allegations made by Euromart regarding the Sh67 million debt, Uchumi has in the past failed to pay back suppliers.

Source: Standard Digital February 15, 2017 05:22 UTC