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How Judge Majanja put Tuskys to death
A Tuskys outlet along Kenyatta Avenue on December 19, 2013.
"Tuskys must now be put to death to stop the suffering of unsecured creditors. It must now be liquidated". That is what High Court judge David Majanja said when he hit the last nail on the coffin of Tuskys Supermarket, the retail chain which at its prime employed up to 2,600 people across its 53 outlets in the country.
Justice Majanja says in his judgment declining last month’s application by the retailer for more time to restructure and turn around the supermarket that “no meaningful purpose will be served if it is indulged or accommodated further by the court”.
The judge appointed Kolluri Venkata Subbaraya Kamasastry as the provisional liquidator of Tusker Mattresses Ltd.Tuskys Supermarkets started experiencing trouble in 2011 when its sibling shareholders disagreed over the direction of the retail chain.
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