Browsing: Consumer Authority of Kenya

For almost two decades, Kenya’s retail store Tuskys has dominated the market establishing itself as an alternative space for shoppers who looked for quality at an affordable rate. However, two years ago, the retail store has seen a downward trend with increased competition from online based stores as well as the rise of foreign stores like Carrefour and the Game.

The company has been unable to meet its financial obligations including paying suppliers and other debtors. This situation has been severe making the Competition Authority of Kenya to come in and scrutinize the accounts of the retailer.

The Authority issued Prudential and Reporting Orders to Tusker Mattresses Limited (Tuskys), requiring it to submit records revealing the full extent of debt owed, financial statements and records, sales forecasts, among others.

Now, the retailer shareholders through Orakam, the retailer parent company have released a statement describing their path to recovery. This includes …