Tuskys Greenspan mall was shut down yesterday over Sh30 million unpaid rent
The auctioneers carted away good of unknown value from the branch and another batch of goods from another branch, the Juja City mall branch days earlier.
Tuskys woes have deepened and now attracting auctioneers.
Stock at the Greenspan Mall branch is set to be auctioned next week on Tuesday, Sannext Auctioneers said.
“They owe the landlord over Sh30 million in rent arrears. The money has been pending for a long duration,” said a representative from Sannex Auctioneers in an interview yesterday.
In August, auctioneers closed down United Mall branch in Kisumu over Sh26 million rent arrears but the store managed to pay half of that sum and was reopened.
Tuskys owes supplies over Sh6 billion shillings, in July, following an order by the Competition Authority of Kenya (CAK), the supermarket cleared Sh2 billion loan owed to suppliers.
An Audit firm has already sounded a death-knell on the retail chain.
Syndicate Agencies Ltd, a loss control and risk management company, filed a petition claiming that Tuskys has failed to settle a Sh30.8 million debt that has accumulated over three years.
In early September, Syndicate Agencies invited creditors to join the petition, a move that will enable the High Court t0 decide whether to let Tuskys operate or appoint a liquidator to sell its assets and settle its mounting debts.
The Supermarket has also closed down five of its branches in Uganda thereby inviting a court battle fronted by staff over unlawfull layoffs.
Electronic appliances distributor, Hotpoint Limited filed a petition to wind up the retail chain after Tuskys paid a paltry Sh11.7 million in response to a statutory demand last May when the unpaid supplies bill stood at Sh259.9 million.
Its Kenyan employees are also working without salaries after successfully obtaining a High Court order stopping the retailer from slashing their pay.
In a race to prevent collapse, Tuskys is seeking to sell majority stake to a consortium made up of a private equity firm and an undisclosed foreign retailer.
It is seeking to raise Sh2 billion short-term debt from an unnamed private equity firm based in Mauritius, with the funds aimed at stabilising operations.
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