Business

South African-based fashion brand Foschini Group exits Kenya


NAIROBI, Kenya, April 15 – Foschini Group Kenya, a South African-based fashion brand, has announced its exit from the Kenyan market after appointing new liquidators to take over its establishments.

The firm appointed both Messrs George Weru and Muniu Thoithi as the joint liquidators of the company, stating that the closure of its operations in Kenya was agreed upon during its members’ general meeting held on April 5, 2024.

“Notice is hereby given that the following Special Resolution was passed at an Extraordinary General Meeting of the members of The Foschini Group Kenya Limited held on April 5 2024 that the Company be wound up,” read the notice.

The company also directed all claims against the company to be submitted to the Joint Liquidators before May 15, 2024, for the liquidation process.

“Creditors of the company are required on or before May 15 2024 to send full particulars of all the claims they may have against the company to the undersigned, the Joint Liquidators of the Company,” it directed.

The South African-based fashion brand dealing with clothing, jewelry accessories, sporting and outdoor equipment, as well as homeware, has been operating various shops in the country, including Foschini women’s wear, Markham, and a second Sterns store at the Nairobi Village Market.

The Foschini Group first came into Kenya back in 2016 through its Sterns outlet at the Junction Mall, making it its first entry into the country and the East African market.

The group has a network of more than 2,100 stores in Africa, including Botswana, Nigeria, Ghana, Lesotho, Swaziland, and South Africa.

It also has an international presence, with stores in Hong Kong, Mexico, the Netherlands, Qatar, and Switzerland, among others.

Advertisement. Scroll to continue reading.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *