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Uchumi HY 2018, the disaster
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Ericsson
#11 Posted : Thursday, February 22, 2018 4:00:30 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ebenyo wrote:
[quote=Ericsson]Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote

.....................................


They should allow the thing to die.Why waste taxpayer money?

There are many such firms. Except KenRe, has any GoK controlled/infiluenced firm not received "debt" (bailout) from GoK that was later converted to Equity?

KPLC
KenGen
KCB [some years ago]---Never received any bailout that was converted to equity
NBK
Uchumi
KQ


In the 90s? Or was it 2000s? [Perhaps not a direct loan but there was some serious shit that went down post-Bii/Kaminchia]

2003-2004


Rights issue was done where government stake was reduced
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#12 Posted : Thursday, February 22, 2018 4:33:45 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
watesh wrote:
SHUT this thing down, then start afresh with a different brand


They are doing culling by shutting down some branches.
From april Sarit Center branch will be no more.They will remain with westlands only.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Metch
#13 Posted : Thursday, February 22, 2018 9:02:34 PM
Rank: Member

Joined: 12/22/2015
Posts: 224
Location: Mombasa, Kenya
Ericsson wrote:
Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade


The horror!
Start!
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VituVingiSana
#14 Posted : Thursday, February 22, 2018 10:06:39 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ebenyo wrote:
[quote=Ericsson]Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade[/quote

.....................................


They should allow the thing to die.Why waste taxpayer money?

There are many such firms. Except KenRe, has any GoK controlled/infiluenced firm not received "debt" (bailout) from GoK that was later converted to Equity?

KPLC
KenGen
KCB [some years ago]---Never received any bailout that was converted to equity
NBK
Uchumi
KQ


In the 90s? Or was it 2000s? [Perhaps not a direct loan but there was some serious shit that went down post-Bii/Kaminchia]

2003-2004


Rights issue was done where government stake was reduced
2 Rights Issues within less than 1 year... Things were really bad. Huge NPLs.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Mastermind
#15 Posted : Thursday, February 22, 2018 11:03:16 PM
Rank: Veteran

Joined: 1/25/2012
Posts: 1,624
Location: Langley
VituVingiSana wrote:
Ericsson wrote:
Net sales of sh.526mn in six months.
Debt level is unmanageable,surviving on goodwill of Gok which got a rating downgrade

I think Carrefour had greater sales in a single branch!
Two Rivers Carrefour is hopping with shoppers on weekends.


Carrefour Karen... https://www.businessdail...73076-82vn1yz/index.html
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Uram
#16 Posted : Friday, February 23, 2018 1:03:02 PM
Rank: Member

Joined: 10/24/2013
Posts: 455
Location: Nairobi
Ericsson wrote:
watesh wrote:
SHUT this thing down, then start afresh with a different brand


They are doing culling by shutting down some branches.
From april Sarit Center branch will be no more.They will remain with westlands only.


@UchumiKenya will close it's Sarit Centre branch from COB Sunday 25th February.
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Angelica _ann
#17 Posted : Friday, February 23, 2018 1:08:11 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
Uram wrote:
Ericsson wrote:
watesh wrote:
SHUT this thing down, then start afresh with a different brand


They are doing culling by shutting down some branches.
From april Sarit Center branch will be no more.They will remain with westlands only.


@UchumiKenya will close it's Sarit Centre branch from COB Sunday 25th February.


They are keeping it alive for obvious reasons smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Metch
#18 Posted : Friday, February 23, 2018 1:23:28 PM
Rank: Member

Joined: 12/22/2015
Posts: 224
Location: Mombasa, Kenya
Angelica _ann wrote:
Uram wrote:
Ericsson wrote:
watesh wrote:
SHUT this thing down, then start afresh with a different brand


They are doing culling by shutting down some branches.
From april Sarit Center branch will be no more.They will remain with westlands only.


@UchumiKenya will close it's Sarit Centre branch from COB Sunday 25th February.


They are keeping it alive for obvious reasons smile


with junk like this there will be opportunities. Am waiting downhill. hopefully 1 bob will print someday
Start!
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mulla
#19 Posted : Friday, February 23, 2018 3:27:38 PM
Rank: Member

Joined: 6/15/2013
Posts: 301
Metch wrote:
Angelica _ann wrote:
Uram wrote:
Ericsson wrote:
watesh wrote:
SHUT this thing down, then start afresh with a different brand


They are doing culling by shutting down some branches.
From april Sarit Center branch will be no more.They will remain with westlands only.


@UchumiKenya will close it's Sarit Centre branch from COB Sunday 25th February.


They are keeping it alive for obvious reasons smile


with junk like this there will be opportunities. Am waiting downhill. hopefully 1 bob will print someday

Goes to show how bad things are if you are letting go of one of the most desired locations in the city.
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Ericsson
#20 Posted : Tuesday, March 06, 2018 9:30:41 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...9828-yv568wz/index.html

Majid Al Futtaim, the exclusive holder of French retailer Carrefour’s franchise in Kenya, last year recorded Sh8.2 billion in sales from its local business riding on accelerated expansion of the supermarket chain.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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WWW
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