This archive report was first published on 22 August 2020.
On August 22, 2020, Tusker Mattresses Limited Shareholder Stephen Mukuha made a commitment to settle all debts owed by the company to various creditors as part of the firm's recovery plan.
During the relaunch of the restocked Tuskys T-Mall hypermarket branch, Mukuha, flanked by the firm's chairman, Bernard Kahianyu, assured suppliers and partners that all supplier debts would be settled in the coming months.
He praised Tuskys staff, customers, suppliers, and other partners, stating that TML shareholders have confidence in the management and staff teams led by Group CEO Dan Githua to oversee the firm's recovery.
"I promise you that for as long as I live, I shall ensure that all our debts to you are fully settled to the last coin," Mukuha said at the event.
Other key stakeholders, including BIDCO Africa Chairman Vimal Shah and T-Mall Property Developer Stanley Thuo, expressed support for Tuskys' recovery plan, citing the company's transparency and honesty in its engagements with creditors.
Tuskys Group CEO Dan Githua confirmed that the firm had successfully onboarded over 186 suppliers on the new trading portal, which has generated three supplier payment cycles amounting to over Kshs 700 million.
