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Uchumi - A value play?
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KaunganaDoDo
#501 Posted : Monday, July 06, 2020 2:41:00 PM
Rank: Member

Joined: 8/6/2018
Posts: 299
HaMaina wrote:
Milk firm pursues Uchumi closure



The retailer last week got a reprieve from the High Court, which marked an insolvency petition against Uchumi as settled and withdrawn following an out-of-court deal with suppliers.
Part of the court rulling, Uchumi is to receive 70% discount on the outstanding liability of Ksh 4.7B...Meaning Uchumi supermarket to pay Ksh 1.4 B in 6 months(30% of the liability) and the rest spread as preference shares and discounted.

Just coming at the right time when Tuskys is struggling and Shoprite and Choppies exiting Kenya
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chiaroscuro
#502 Posted : Monday, July 06, 2020 5:32:49 PM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Uchumi Supermarkets given 6 months to pay 4.7 billion.....

https://www.nation.co.ke...-pay-4-7-billion-1445522
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chiaroscuro
#503 Posted : Monday, July 06, 2020 5:34:16 PM
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Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Na kuna watu bado wananunua hii kitu?
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Ericsson
#504 Posted : Monday, July 06, 2020 5:48:02 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
KaunganaDoDo wrote:
HaMaina wrote:
Milk firm pursues Uchumi closure



The retailer last week got a reprieve from the High Court, which marked an insolvency petition against Uchumi as settled and withdrawn following an out-of-court deal with suppliers.
Part of the court rulling, Uchumi is to receive 70% discount on the outstanding liability of Ksh 4.7B...Meaning Uchumi supermarket to pay Ksh 1.4 B in 6 months(30% of the liability) and the rest spread as preference shares and discounted.

Just coming at the right time when Tuskys is struggling and Shoprite and Choppies exiting Kenya


Quickmart will decimate it
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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KaunganaDoDo
#505 Posted : Monday, July 06, 2020 7:04:27 PM
Rank: Member

Joined: 8/6/2018
Posts: 299
[quote=chiaroscuro]Uchumi Supermarkets given 6 months to pay 4.7 billion.....

https://www.nation.co.ke...pay-4-7-billion-1445522[/quote]

Nation Newspaper also got it wrong. Its the 30%of the 4.7B.
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KaunganaDoDo
#506 Posted : Monday, July 06, 2020 7:08:02 PM
Rank: Member

Joined: 8/6/2018
Posts: 299
chiaroscuro wrote:
Na kuna watu bado wananunua hii kitu?


Ask yourself why its still trading... while Guys like Deacons,ARM,Mumias and KQ are all down? They have cleaned their balance sheet with this restructuring...Its now System Go... plus this restructuring was the condition precedent for New Foreign Equity Partners
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FUNKY
#507 Posted : Monday, July 06, 2020 7:36:46 PM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
Uchumi will bounce back...their branches have been buying fast moving goods on cash basis from suppliers p/s - I am one of the supplier
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Ericsson
#508 Posted : Monday, July 06, 2020 7:41:30 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
FUNKY wrote:
Uchumi will bounce back...their branches have been buying fast moving goods on cash basis from suppliers p/s - I am one of the supplier


The former customer of uchumi moved on
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#509 Posted : Monday, July 06, 2020 7:41:44 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
KaunganaDoDo wrote:
chiaroscuro wrote:
Na kuna watu bado wananunua hii kitu?


Ask yourself why its still trading... while Guys like Deacons,ARM,Mumias and KQ are all down? They have cleaned their balance sheet with this restructuring...Its now System Go... plus this restructuring was the condition precedent for New Foreign Equity Partners

Government/Taxpayer bailout.
EAPCC and Mumias are other zombies. As was NBK. And KQ.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#510 Posted : Monday, July 06, 2020 8:03:16 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
KaunganaDoDo wrote:
chiaroscuro wrote:
Na kuna watu bado wananunua hii kitu?


Ask yourself why its still trading... while Guys like Deacons,ARM,Mumias and KQ are all down? They have cleaned their balance sheet with this restructuring...Its now System Go... plus this restructuring was the condition precedent for New Foreign Equity Partners

Government/Taxpayer bailout.
EAPCC and Mumias are other zombies. As was NBK. And KQ.


Treasury should allow EAPCC be swallowed by Bamburi cement
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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