Uchumi Supermarkets #ticker:UCHUM is set to hold a fresh creditors meeting to discuss how the retailer will pay debt after the earlier proposal of liability write-offs was rejected by a section of the suppliers.
The court, in a September 26 ruling, directed the retailer’s Company Voluntary Arrangement (CVA) supervisor Owen Njenga Koimburi to engage the secured creditors and present a report in 30 days that will outline how they will be paid by Uchumi and the retailer’s overall plan.
