Tuskys Supermarket main shareholder Stephen Mukuha pledges all debts settlement

 

Tuskys supermarket
Tuskys supermarket. FILE

 

Tuskys supermarket in a new move to get back to business after shareholders promise to pay the loans the venture owes.

Tusker Mattresses Limited shareholder Stephen Mukuha pledges full debts repayment to numerous bankers as part of the firm’s rescue plan.


Mr Mukuha declared the move at a relaunch of the restocked Tuskys T-Mall hypermarket branch passionate.

While meeting the Tuskys team, customers, suppliers, and other partners, Mukuha reemphasised that TML shareholders have pledged to address the firm current challenges.

The shareholders are in full faith in the management and staff teams led by group CEO Dan Githua.


“I guarantee you that for as long as I'm breathing, I assure that all our debts to you are fully settled to the last coin,” he said.


“We are distressed and acutely disturbed at the turn of events but we have undertaken to ensure a full turnaround for the sake of our dedicated staff, esteemed suppliers, landlords, and other partners including our loyal customers.”


Speaking at the event on behalf of other suppliers, Vimal Shah revealed said that Tuskys had persevered clarity and honesty in its battles with its creditors.


“We have been in such difficulties before with other players who were, however not honest and transparent. Tuskys management has continued to engage us transparently, and the approval of the trading platform has allowed us to trust their recovery plan,” Shah said.


Tuskys Group CEO Dan Githua confirmed that the firm had managed to successfully bring on-board more than 186 suppliers on the new trading portal.


Group CEO added that the company has already created three supplier payment cycles amounting to more than Sh700 million barely a month into its pilot run.

“The portal development has advanced in line with requests from suppliers. To date, we have handled 46 enhancement requests. We are also working on them, " he added.

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