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Sunday 15th, December, 2024

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Uchumi faces more woes as banks reject debt plan

Uchumi

Zachary Ochuodho @zachuodho Uchumi Supermarket’s secured creditors have rejected the debt restructuring proposal and creditors’ plan presented by the retailer, saying it should just be liquidated. In a vote held yesterday, majority of secured creditors, mainly commercial banks voted against the plans by the company to restructure its debt. Four secured creditors voted against the debt […]