Business
Choppies Supermarket Is Closing Down
Choppies supermarket which started in Botswana is planning to leave the Kenyan retail market after only 4 years.
The retailer has struggled to grow market shares in the competitive retail market owing to huge competition from rivals some of which have merged.
On Wednesday in an Extraordinary General Meeting (EGM) with shareholders the company stated that it had listed its Kenyan assets for sale. It also classified 12 of its stores as distressed.
Choppies had earlier announced plans to treble the number of its stores in the next three years before its downfall due to financial difficulties.
This year alone the retailer which was the anchor supermarket in Kiambu mall shut down after experiencing stockouts amid rising operation costs. The company also shut down its Bungoma outlets.
The retailer has been hit by a myriad of challenges in a couple of countries as its struggles to even pay suppliers.
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