The Competition Authority of Kenya (CAK) had ordered Tuskys to settle supplier debt of Sh1.2 billion by Thursday last week after a group of companies complained.
Measures that helped the company pay the debt included negotiations for moratoriums and extensions of credit facilities with lenders.
The CAK started looking into Tuskys’ operations in April after reports emerged that it was not paying suppliers on time as provided for in their respective contracts.
Supermarket chain Tuskys paid suppliers a total of Sh2.7 billion in June as it raced to beat a regulatory deadline to settle its obligations that had remained outstanding for months.
The Competition Authority of Kenya (CAK) had ordered Tuskys to settle supplier debt of Sh1.2 billion by Thursday last week after a group of companies complained to the regulator about the retailer’s default.
