Uchumi Supermarkets PLC will meet its creditors and members virtually on Monday, September 21, 2026, at 10am, the latest step in an insolvency process that has run before the High Court of Kenya since 2018.
Owen Koimburi, the insolvency practitioner appointed to oversee the case, issued the meeting notice under section 628 of the Insolvency Act No. 18 of 2015, along with Rule 134 and the Third Schedule of the Insolvency Regulations, 2016. The retailer has asked interested parties to register in advance through a link included in the official notice.
The meeting sits within Insolvency Petition No. IP 25 of 2018, a case that remains open before the Commercial and Admiralty Division of the High Court.
What the Meeting Will Cover
Uchumi’s chairman will open proceedings, followed by a presentation from the chief executive on operational, legal and financial matters. The Company Voluntary Arrangement (CVA) Monitor will then deliver a report on the restructuring plan’s progress.
Members will get an open forum to raise questions about the CVA and what it has achieved so far. The agenda also allows for written notices submitted to the Monitor’s office up to 48 hours before the meeting begins, giving stakeholders a formal channel to flag concerns ahead of time.
A Retailer Still Working Through Its Debts
Uchumi built its name as one of Kenya’s largest supermarket chains before its finances collapsed. The company entered receivership in 2006, and years of poor governance, mounting debt and supplier disputes eroded a business that once expanded across East Africa. It has operated under insolvency related restructuring since 2019, when its board first approved a deal to cut debt through a voluntary arrangement, using the CVA framework to work through what it owed suppliers, banks and government lenders.
That framework has not shielded the retailer from setbacks. A 2020 report found Sh3.6 billion in supplier debt derailing Uchumi’s recovery plan, with creditors including Chandaria Industries and Githunguri Dairy still awaiting settlement years after the CVA took effect.
More recent coverage points to a slow rebuild. A 2025 Khusoko report on the CVA Monitor’s findings described two operating branches at Langata and Unicity, a tenancy deal with China Square generating roughly Sh5 million a month in rent, and settled debts with major lenders including KCB Bank Group, Co-operative Bank of Kenya and UBA Kenya.
The Capital Markets Authority also declined requests to suspend Uchumi’s shares, arguing the company cannot be allowed to fail. Khusoko has continued tracking the retailer’s progress through its ongoing Uchumi Supermarket coverage.
Separately, Business Daily reported that Uchumi disclosed a technical insolvency of Sh7.05 billion as at June 2025, a jump of more than 106 percent from a negative equity position of Sh3.41 billion in 2017. The company held its first annual general meeting in eight years in April 2026, presenting financial statements covering eight years of losses.
Timeline: Uchumi’s Long Road Through Insolvency
| Date | Development |
|---|---|
| June 2006 | Uchumi placed under receivership after 30 years in business; delisted from the Nairobi Securities Exchange |
| March 2019 | Board approves a Company Voluntary Arrangement to restructure debt and avoid liquidation |
| October 2020 | Sh3.6 billion in supplier debt reported as a drag on the recovery plan |
| May 2022 | Creditors and members meeting held to review asset disposal and CVA progress |
| February 2024 | Further creditors meeting reviews CVA implementation status |
| July 2025 | CVA Monitor reports two operating branches, new tenancy income and settled bank debts |
| April 2025 | Uchumi holds its first AGM in eight years, presenting eight years of financial statements |
| June 2025 | Technical insolvency disclosed at Sh7.05 billion, up over 106 percent from 2017 |
| September 21, 2026 | Latest creditors and members meeting scheduled |
Explainer: What Is a Company Voluntary Arrangement?
A Company Voluntary Arrangement, introduced under Kenya’s Insolvency Act of 2015, gives a struggling company a legal route to avoid liquidation. Directors or an appointed insolvency practitioner draft a repayment proposal, then put it to creditors and shareholders for approval. If accepted, the company continues trading while working through an agreed schedule to settle what it owes, rather than being wound up and its assets sold off.
For Uchumi, the CVA has meant renegotiating terms with banks and suppliers, restructuring its property holdings for rental income, and reporting regularly to the court appointed Monitor on whether it is meeting its obligations. The September 21 meeting gives creditors and members their next formal chance to assess whether that plan is working.
