Uchumi supermarkets has announced that it will be closing down its Sarit Centre branch in Westlands, Nairobi at close of business (COB) on Sunday 25th February.
Uchumi’s Sarit center branch, which has been operating over the last 30 years becomes the latest branch to be shut down by the cash strapped retailer after the capital center one last month.
According to the management, the closure of the Hyper branch is Part of Uchumi’s comprehensive turnaround plan and new cost management strategy, necessitated by a need to cut losses and need to survive the turbulent times.
The management further said that it’s in “search of cost effective retail space as it continues to align with changing trends in the modern trade”.
“We are committed in ensuring a seamless experience for our customers and will be exploring possible relocation at other venues of our most unviable branchs to more cost-effective and strategic locations as part of the ongoing strategy to manage costs, settle debts and optimize cash flow” said CEO Andrew Dixon.
The closure of Uchumi Hyper branch comes barely a day after the struggling retailer revealed that its net loss for the half year ended Dec 2017 widened to $8.92 million from $5.47 million in 2016, due to a sharp drop in sales.