The resignation of Uchumi Supermarkets’ chief executive Julius Kipng’etich has thrown the retailer’s recovery plans into limbo and compromised its efforts of attracting new funding to pay its outstanding debts and restock its outlets.
This comes even as the government said it had released Ksh700 million ($7 million) to the company for restocking so that it can take advantage of the booming business expected in the end of year festive season.
