Tuskys faces three more auctions
Under fire retailer Tuskys is now facing three new auctions as disgruntled landlords seek to dispose its properties to recover outstanding rent arrears.
In a notice contained in local dailies, Garam Investment Auctioneers listed properties in three of the retailer’s stores for public auction between October 21 and October 23.
The three auctions involve Tuskys outlets along the North Airport Road’s Kencor Petrol Station, Embakasi (Tuskys Embakasi) and Tuskys Komarock Mall (K-Mall).
Meanwhile, Auckland Agencies Auctioneers have listed for dale Tuskys movable properties at the Juja City Mall.
The planned auctions are expected to exert more pressure on the management of the troubled retailer which last week saw mass protests from staff over unpaid employee benefits running back to August 2020.
The management of Tuskys has continued to wait on a new Ksh.2 billion working capital injection from a Mauritius based private fund to stabilize its operations and avoid a looming collapse which has further been fuelled by a wind up petition.
In the meantime, the retailer has moved to bolster its corporate management appointing former Uchumi Chief Finance Officer Chadwick Okumu and Caroline Karimi as its new financial controller and Internal Audit Manager respectively.
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