{"id":11972,"date":"2020-07-29T18:09:58","date_gmt":"2020-07-29T18:09:58","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=11972"},"modified":"2020-07-29T18:10:19","modified_gmt":"2020-07-29T18:10:19","slug":"tuskys-in-dire-need-of-sh2-billion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion","title":{"rendered":"Tuskys in dire need of Sh2 billion"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> Troubled retail chain Tuskys Supermarkets requires an immediate capital injection of Sh2 billion to stay afloat.<\/p>\n

In shareholders meeting held last month, the family owners of the retailer were told that Tuskys current financial position is \u201cvery weak\u201d and may not \u201csupport the business for much longer.\u201d<\/p>\n

This is ahead of an expected deal with a strategic investor after the seven shareholders agreed to sell off a majority stake to save the business \u2013 a process that it was revealed it could take up to 6 months.<\/p>\n

DTB also agreed to extend Tuskys banking pending negotiations for investors\u2019 capital injection.<\/p>\n

Yesterday, suppliers, landlords and staff also agreed to support the supermarket until it completes the deal with the strategic investor.<\/p>\n

In the shareholders meeting, the siblings agreed to set aside their difference so as not to scare the investor. \u201cAny matter that may have gone wrong or any financial mismanagement or misuse would be discussed in detail and whoever is responsible for such misdeeds will be dealt with as appropriate including in court of law,\u201d said minutes from the meeting seen by africa-press.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: Troubled retail chain Tuskys Supermarkets requires an immediate capital injection of Sh2 billion to stay afloat. In shareholders meeting held last month, the family owners of the retailer were told that Tuskys current financial position is \u201cvery weak\u201d and may not \u201csupport the business for much longer.\u201d This is ahead of an expected deal […]<\/p>\n","protected":false},"author":84,"featured_media":11974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[4930,4929,2841,4931],"class_list":["post-11972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-dtb","tag-nakumatt","tag-supermarkets","tag-tuskys-supermarkets"],"yoast_head":"\nTuskys in dire need of Sh2 billion - kenya<\/title>\n<meta name=\"description\" content=\"Troubled retail chain Tuskys Supermarkets requires an immediate capital injection of Sh2 billion to stay afloat.In shareholders meeting held last month\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tuskys in dire need of Sh2 billion\" \/>\n<meta property=\"og:description\" content=\"Troubled retail chain Tuskys Supermarkets requires an immediate capital injection of Sh2 billion to stay afloat.In shareholders meeting held last month\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-29T18:09:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-29T18:10:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/07\/tuskys_in_dire_need_5f2131a9a596c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"544\" \/>\n\t<meta property=\"og:image:height\" content=\"341\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tuskys in dire need of Sh2 billion\",\"datePublished\":\"2020-07-29T18:09:58+00:00\",\"dateModified\":\"2020-07-29T18:10:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion\"},\"wordCount\":189,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/07\/tuskys_in_dire_need_5f2131a9a596c.jpg\",\"keywords\":[\"DTB\",\"Nakumatt\",\"Supermarkets\",\"Tuskys Supermarkets\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/tuskys-in-dire-need-of-sh2-billion\",\"name\":\"Tuskys in dire need of Sh2 billion - 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