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Companies

Peter Kahi to oversee liquidation of Ukwala

Peter Kahi
Peter Kahi. FILE PHOTO | NMG 

PKF Consulting’s Peter Kahi has been appointed to oversee the liquation of struggling retailer Ukwala Supermarkets.

Through a notice in local dailies, Mr Kahi has now invited the company’s more than 300 suppliers and creditors to submit outstanding claims before the end of this month.

The move comes just a month after the High Court gave the nod for permanent closure of Ukwala on the back of inability to pay debts estimated to be about Sh1 billion.

“Creditors of the company are required on or before 31 July 2019 to send full particulars of all claims they may have against the company,” the notice said yesterday.

Ukwala, one of Kenya’s oldest retail chains, owes the Kenya Revenue Authority Sh840 million, making the taxman one of the potential biggest losers in the wake of its collapse.

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It sought court orders to liquidate its business last November.

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