Yet another Tuskys branch faces auction over debt
Tuskys supermarket’s Southfield mall outlet is set to be auctioned next week.
In a notice in the local dailies, Makuri Auctioneers indicated that the auction is a matter between the landlords and Tusker Mattresses Limited.
Among the items which are set to be sold on October 29, will include kitchen ware, furniture, entertainment equipment as well as an assortment of car accessories.
The move comes barely two weeks after the retailer picked former Uchumi chief financial officer Chadwick Omondi as its new financial controller.
Tuskys, once Kenya’s largest supermarket chain by footprint, has been struggling with debts owed to suppliers amounting to slightly over six billion shillings.
Earlier this month, the troubled retail chain had three of its outlets also going under the hammer as landlords seek to recover outstanding rent.
Garam Investment Auctioneers put a notice in the local dailies and listed three properties of the retailer’s stores for public auction.
The three were Tuskys outlets along the North Airport Road’s Kencor Petrol Station, Embakasi (Tuskys Embakasi) and Tuskys Komarock Mall (K-Mall).
Tens of the retailer’s employees continue holding demos over their dismissal and their former employer’s failure to make a firm commitment on settling their severance dues.
Tuskys recently closed Nairobi’s K-mall outlet in Komarock estate, Tuskys Hakati in the Nairobi Central Business District (CBD), Kilifi and Eldoret’s Uganda road branches.
According to a statement from Benard Kahianyu, the retailer’s chairman, they were closing down three outlets in Nairobi, Kitale and Mombasa temporarily.
Tuskys had last month stated it was searching for a new finance chief as it also sought to raise funds to clear loans and suppliers’ dues.