NAIROBI, Kenya, Dec 21 – Ukwala Supermarket, which has been under liquidation for six years, is set to file for closure of the process, liquidator Peter Kahi confirmed on Thursday after the retailer held a final creditors’ meeting.
The retailer filed for liquidation in 2018 over debts exceeding Sh1 billion owed to suppliers and the Kenya Revenue Authority, against total assets valued at just Sh19 million.
In September 2019, the liquidator appointed Tysons Limited to value the supermarket’s assets, revealing a market value of Sh568,200 and a forced sale value of Sh405,300.
Ukwala Supermarket Limited (In Liquidation) was incorporated as a Limited Liability Company on April 27, 1995, with an authorized share capital of 40,000 ordinary shares of Sh100 each, all of which were issued and fully paid.
The closure of the liquidation process marks the end of the retailer’s operations, which once stood as a significant player in Kenya’s retail sector.
