Uchumi Supermarkets #ticker:UCHM failure to pay its workers for three months is just the latest indication of how far the once-iconic retailer has sunk. Its financial troubles seem to run deep despite receiving one government rescue package after the other over the past decade.
So desperate has Uchumi been that it had hinged its hopes on the sale of a Sh3 billion plot in Kasarani, Nairobi, to come through and at least temporarily meet its financial needs, including paying salaries and suppliers.
