Troubled Tusker Mattresses Limited, the company that owns Tusky’s Supermarket has launched an aggressive campaign to re-launch its outlets countrywide following months of economic hardships.
This is after it secured Sh2 billion funding from undisclosed Mauritius-based private investors. The retailer says the exercise will now see all its fifty-three branches rebranded to improve customer confidence.
According to Head of Business Development John Muitiriri the supermarket chain has also struck a deal with suppliers that will see all branches restocked.
“This is an exercise we are doing in all our stores across the country. For this reason, we are going around the counties just to ensure we are able to re-launch and being able to convince our customers that we are back.” Muitiriri said.
“We have agreed with our customers on how we shall repay our old debts even as they continue supplying,” he said adding, “We are now re-launching Tuskys country-wide to bring back the confidence our customers used to have with us.”
Over the weekend the company re-launched Kilifi and Malindi Tuskys retail stores as part of their move to bring back confidence to their clients.
“When you look at retail business in terms of key expenditures, talk of rent and staff salaries, these are constants. When the disposal income happens and there is less spending, of course, a business tends to shake a bit.” Muitiriri added.
The family-owned retailer has been teetering on the brink of demise due to heavy mounting supplier debts, loss of supplier confidence, and dwindling cash flow to restock essential items on its empty shelves.
Tuskys has lost significant clout to rivals Naivas and newcomer Quickmart which has been on an expansion spree countrywide.
Last month, the company embarked on a new recovery plan that guarantees prompt payments for stocks supplied. Sales registered via the new suppliers’ portal enjoy end to end protection, and the funds can only be used to settle supplier dues on a priority basis.
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