These were my sentiments in 2004 when Uchumi financial problems started. I convinced myself that Uchumi was too big to fail because of the GOK support. Then came the suspension, bailouts etc. I didn't lose all my capital but i regret the opportunity cost leading up to the relisting. 2004-2008 was of course the greatest bull period in Kenya history.

Apologies if this has been previously discussed in the thread but how many times have Uchumi shareholders been issued with stocks in exchange for debt? Why does this program not achieve it's intended aim of resetting the company's financials?

Because the government never ceases to have a controlling stake...the solution to all of Uchumis problems lies with the government ownership. If the government ends up controlling less than 40% or 30%, then the company will become the next wallmart

In addition our weak litigation process when it comes to the BIG FISH- Mbuta. Uchumi problems lies with financial impropriety and those involved cannot be brought forth to account.The Govt stands to be blamed when its organs cannot effect Justice to the innocent Wanjiku. We see several forensic reports and dossiers revealed be it KQ,MSC & Uchumi but action ZERO.

Try scribd.com or dochub.com use google docs or dropbox

Should Kipng'etich pull through and make uchumi back on it's feet then he will be the most respectable person in business in kenya .will be branded same group with karume. Should he fail then he will be a fallen hero or a bird with no wings to fly. I still have faith in him

Thought so .feels he was set up for failure by someone .

[quote=Plimsoul]So all the pictures on social media were true? CEO confirms that revenues had collapsed to 200m a month. They were making over 1bn a month before!!!

This financial year's losses will be massive!

Uchumi Supermarkets is targeting a 40 per cent growth in sales by next month, as suppliers make a comeback from today in a deal reached on Friday.

"Chief executive Julius Kipng’etich said yesterday suppliers have started filling shelves at the retailer which has been operating on near-empty shelves, giving hope for recovery of the troubled retailer. “If they all come back, we expect by end of June sales will have grown to Sh300 million,” Kipng’etich told the Star on telephone. "

http://www.the-star.co.k...-supplier-deal_c1355444[/quote]
Now imagine the goodwill lost....some of their biggest stores are usually deserted on a weekend. Suppliers problem really hurt them. They lacked sooo many basic things and had sooooo much popcorn

He will be hired. He has a good track record. A smart person - and there are many out there - will definitely see his qualities. But unfortunately he might either have to wait, or will not be able to cherry pick where to work, or both!!

There hope it opens properly...


https://www.scribd.com/d...602363/Uchumi-Agreement[/quote]

The way the agreement is structured, it guarantees that suppliers will get paid the old debt. So at least for them, there will be no bad debts to write off. This also means you are a preferred supplier going forward so harder for your competition to get in. Uchumi gets to remain open...not sure what else they get from this.

So it seems the suppliers fare off better than uchumi