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Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Uchumi Receivership Lifted

Uchumi Receivership Lifted

Uchumi supermarket has officially come out of receivership making history as one of the few companies to revert to its original owners from a virtual bankruptcy. The supermarket chain was cleared by its creditors Kenya Commercial and PTA banks, effectively ending the three and a half year receivership. Following the declaration, former receiver manager Jonathan Ciano has been appointed as the new chief executive officer. Wanjiru Gaitho has been keeping tabs on the story and has filed the following report.

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