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Naivas takes over Uchumi, Nakumatt stores in Oct
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Naivas takes over Tuskys space in Juja City Mall
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Auctioneer gets the nod to sell Tuskys goods over Sh40m rent
Summary
The retailer was the anchor tenant of the mall since 2015 and had leased the premises for 10 years.
Tuesday April 27 2021
By JOSEPH WANGUI
Summary
The retailer was the anchor tenant of the mall since 2015 and had leased the premises for 10 years.
The High Court has allowed an auctioneer to sell assets seized from fallen retail giant Tuskys Supermarket to offset Sh40 million rent arrears due to the owner of Juja City Mall on Thika Road.
Justice Lucy Gacheru lifted temporary orders Tuskys obtained last September blocking the sale. She also dismissed claims by the retailer that Auchland Agencies Auctioneers had blocked it from accessing the building, saying there was no evidence Tuskys was evicted from the premises as alleged.
AllAfrica.com
CASH-STRAPPED Tuskys Supermarkets has Sh41.6 million in its only bank account with funds, as it fights off at least 26 cases filed by creditors seeking billions in dues dating as far back as 2016.
But the bank account is frozen, following four separate cases at the Chief Magistrate’s Court in Milimani, Nairobi.
Besides, the Sh41.6 million Tuskys has is hardly enough to cater for all the creditors making a beeline for the retail chain’s main trading account.
Landlords alone are owed in excess of Sh100 million, Hotpoint Appliances is claiming Sh248 million, businessman Pietro Canobbio is owed an estimated Sh200 million while Syndicate Agencies Ltd wants Sh30 million.
Tuskys wants assets held by landlords in 20 outlets released
Wednesday February 03 2021
Tuskys Supermarket in Nakuru Town along Kenyatta Avenue closed its doors to the public signifying the end of the chain in Nakuru County.
By BONFACE OTIENO
The retailer is hoping to net Sh911.5 million from the sale of its non-core assets.
Through lawyer Patrick Onyango Ogola, the retailer says the sale of the items will also allow it to restock its other outlets and settle unsecured creditors’ debts.
Some of the outlets where landlords have obtained orders to seize the retailer’s assets over rent default include Nanyuki Mall, Eldocenter, Shiloa, Mtwapa Mall, Mega Mall, Pioneer and Karen CrossRoads.
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