An Uchumi Supermarket branch. [Photo/Kahawatungu]
There is finally light at the end of the tunnel as Kenya’s oldest retail chain, Uchumi Supermarkets commences full normal operations, much to the delight of its customers.
The retailer had temporarily closed all its Nairobi branches yesterday to restock shelves in a deliberate move to encourage customers ahead of the festivities, which is synonymous with high spending and shopping. The retailer’s management said in a statement that normal operations in the affected outlets would resume today after the completion of the process.
The restocking process by the retail store is expected to last 90 days across the country as it seeks to regain its fading splendor. “Uchumi Management wishes to notify the general public that the Nairobi branches will remain closed on December 13 as staff undertakes to restock of our shelves. Normal business operations will resume on December 14.
We are grateful for the valued support of our suppliers in the restocking process. This has enabled us to ensure we can have a full range of popular products available,” reads the statement.
The supermarket has also told its customers to expect “a wide array of grocery and liquor products as well as household items and a fantastic bakery,” once the restocking process incomplete.
The retailer has also put on hold it's annual general meeting (AGM), initially slated for December 20, as it seeks to firm up negotiations with the potential investor.
The Board anticipates that the AGM will be held before March 31 next year,” read the statement. The NSE-listed firm had in October announced it had clinched undisclosed strategic investor expected to inject Sh3.5 billion into the struggling retailer which will partly plug the Sh5 billion debt the brand owes its suppliers and financiers.
The government is expected to release Sh1.2 billion to Uchumi as part of a bailout loan, having already released Sh500 million through Treasury.