Why Uchumi’s comeback plan fell apart

By Michael Omondi

When Uchumi Supermarkets announced last Thursday that it had closed shop, hundreds of thousands of Kenyans were left counting heavy financial losses.

In this group were creditors and suppliers who had either failed to read the giant writings on the wall or had stayed in too late to make a quick exit. The hardest hit were, however, the thousands of investors who gave the retail chain hundreds of millions of shillings only eight months ago.

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