Tuskys Eyes Return To Market As Auctioneers Ordered To Return Seized Goods

KEY POINTS:

  • Tuskys supermarket is on the brink of reopening its doors following the High Court ordering Makuri Auctioneers to return all seized goods.
  • Justice Francis Tuiyot said the goods should be returned within a week and the matter mentioned on December 3 to confirm compliance.
  • The retailer has been struggling with debts owed to suppliers amounting to slightly over Sh6 billion. 

Tuskys supermarket is on the brink of reopening its doors following the High Court ordering Makuri Auctioneers to return all seized goods.

Auctioneer and businessman Pietro Canobbio had seized goods worth Sh200 million. The goods include kitchenware, furniture and entertainment equipment, among others.

Justice Francis Tuiyot said the goods should be returned within a week and the matter mentioned on December 3 to confirm compliance.

Tuskys has been struggling with debts owed to suppliers amounting to slightly over Sh6 billion.

READ MORE:

Tuskys is also locked in battle with other auctioneers over defaulted rent, underlining the depth of cash flow woes at Kenya’s once leading supermarket.

In October, the retailer in another case got a reprieve after a judge extended an order stopping its winding up over a Sh248 million debt. The judge allowed the supermarket and Hotpoint to continue negotiating and settle the case.

The initial liquidation case was filed by Hotpoint after the supermarket failed to pay its debt.  Hotpoint had supplied the supermarket with cookers, microwaves, TVs and fridges among other items.

It said the supermarket failed to pay up despite repeated requests, leaving the company with no option other than suing.

Hotpoint in its suit papers asked the court to appoint Kolluri Venkata Kamasastry as liquidator.

RELATED POST:Elderly Woman Kills Self Over Ksh.20,000 Church Debt

Stay Connected

5,756FansLike
0FollowersFollow