Tuskys employees on Wednesday staged protests in the Central Business District (CBD) over delayed pay.
According to the former employees who were fired recently accused the struggling retailer of giving them post-dated cheques.
“Pay us our money, pay us our money! Salaries! We want justice,” the placards read.
“Obey court orders since July. We demand justice! Stop unlawful redundancies and terminations of over 800 employees!” others read.
The over 50 staffers have apparently not received pay since July.
Read: Tuskys Siblings To Lose Ownership If They Default Ksh2 Billion Loan
On September 18, the ex-Tuskys employees demonstrated in Nairobi but the retailer is yet to heed to their call.
On the same day, the supermarket chain received Sh500 million, part of a Sh2 billion deal with a Mauritius investor.
“We have received the first tranche of the earlier announced Ksh2 billion credit disbursement today. This first tranche disbursed today amounts to Ksh500million and will cover immediate working capital requirements including partial settlements to our staff, suppliers and landlords among others. In particular, the first tranche of the suppliers old debt amounting to Ksh321 million has been settled,” said Tuskys CEO Dan Githua.
Reports indicate that Tuskys shareholders risk losing ownership of the chain retailer should they default on payment.
Read Also: Tuskys Greenspan Mall Auction Following Sh30 Million Rent Arrears Put On Hold
The unnamed investor is demanding that the seven siblings place all their shares as security for the loan, which they will have to cede in case they default the loan.
Tuskys’ holding company, Orakam Holdings, through lawyer Philip Murgor has already summoned all the shareholders to a shareholders’ meeting on Monday, September 28, to sign the agreement.
“A notice has been sent for shareholders of Orakam on September 28, 2020 to validate negotiations of receiving $20 million from an offshore fund,” said Murgor in the notice.
Stephen Mukuha, Sammy Gatei, Yusuf Mugweru and George Gachwe each own a 17.5 percent stake in Orakam while John Kago, Mary Njoki and Kenneth Njeri own a 10 percent stake each.
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