Uchumi Supermarket workers restocking their shelves. [Photo/ businessdailyafrica.co.ke]Uchumi Supermarkets have seen tremendous come back during this festive season with enormous restocking of its nineteen out of twenty outlets countrywide.In an interview with the Business Daily, Uchumi’s recently appointed Chief Operating Officer Andrew Dixon said that the retail firm’s management is upbeat about its return to former glory with radical changes that will make 2018 a better year for them.
“I am optimistic about our continued return of the brand to its former glory. The restocking we have been conducting recently is not a seasonal affair; we are building towards a sustainable business going forward,” Dixon said.
However, Mr. Dixon says that the effective growth of the retailer will majorly rely on how fast they will be able to get the buyer for their sh.3.5 billion Kasarani land and also a suitable investor.
“The investor is progressing with due diligence. We expect fresh funds by the end of January or there about. That coupled with the potential sale of Kasarani land, that means we should be in a good financial position by the end of March 2018,” Dixon added.
At the beginning of December, Uchumi received sh. 700million bailout form the National Treasury which it used to clear its employees two months’ pay arrears, clear debts with some of its suppliers and restocked its outlets countrywide.