NAIROBI, KENYA: Clothing firm Deacons East Africa has become the second company to be suspended from the Nairobi Securities Exchange over insolvency concerns.

The cash-strapped retailer said it has appointed Peter Kahi and Atul Shah of PKF Consulting as joint administrators of the company after it ran into financial distress.

The NSE on Monday announced that the Capital Markets Authority had suspended Deacons shares from trading of from November 19, 2018 and shall remain in force for a period of 40 working days.

Just in August this year regulators suspended Athi River Mining from trading after it was also placed under administration.

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