Sign up or lose, State tells anxious Uchumi suppliers

The Government has told suppliers of the troubled Uchumi Supermarkets that they have to take the proposed bailout option.

Trade Principal Secretary Chris Kiptoo prevailed upon the suppliers to accept the deal to convert half of their debt into shares as “it was the only choice they had of getting back their money.” “The Government is committed to providing the necessary support but it is hinged on suppliers signing the deed,” said Dr Kiptoo.