This archive report was first published on 6 September 2019.
Published on September 6, 2019, Choppies supermarket, which started operations in Botswana, is planning to exit the Kenyan retail market after only four years.
The retailer has faced significant challenges in the competitive market, including huge competition from rivals that have merged, leading to a decline in its market share.
During an Extraordinary General Meeting (EGM) with shareholders on Wednesday, the company stated that it had listed its Kenyan assets for sale and classified 12 of its stores as distressed.
Choppies had earlier announced plans to triple the number of its stores in Kenya within the next three years, but the company has since struggled with financial difficulties, including stockouts and rising operation costs.
The retailer has been hit by a myriad of challenges in several countries, including difficulties in paying suppliers, leading to the shutdown of its stores in Kiambu mall and Bungoma outlets.
