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Sendy is now beneath administration to avoid wasting its enterprise. If this doesn’t work, the corporate could also be pressured to liquidate its property.
Yesterday, TechCabal exclusively reported that logistics firm Sendy was going into administration; at the moment, it was unclear which firm had been appointed because the administrator. However a doc seen by this publication has proven that Peter Kahi of PKF Consulting (Okay) Restricted is the administrator. Peter Kahi additionally served as administrator of the now-defunct Nakumatt supermarket in 2018 and Britania Foods Limited in 2021.
“Discover is hereby provided that Peter Kahi of PKF Consulting (Okay) Restricted, Kalamu Home, Grevillea Grove. Westlands and P 0 Field 14077-00800 Nairobi was appointed because the Administrator of Sendy Group of Corporations,” learn the discover. “Sendy Kenya Freight Restricted (Underneath Administration) firm quantity PVT-Q7UDVX5. Sendy Restricted (Underneath Administration) firm quantity CPR/2014/140428, Sendy Retailer Restricted (Underneath Administration) firm quantity PVT-PlUQRL9 and Sendy Kenya Market Restricted (Underneath Administration) firm quantity PVT-MKUJX57 on 20 September 2023,” learn the discover.
Sendy is now beneath administration regardless of its efforts to remain discover a purchaser and after burning via $22 million in funding. The corporate confronted vital setbacks, akin to a 20% reduction in its workforce in 2022
and the discontinuation of its operations in Nigeria. Throughout its most difficult interval, Sendy’s monthly burn rate hit $1 million. Sendy had been actively exploring buyout choices with potential corporations like Sabi and Wasoko. Nevertheless, an insider acquainted with the negotiations revealed that these corporations determined in opposition to buying Sendy, citing issues about assuming the corporate’s current liabilities.
The administrator (PKF) has assumed management over the administration of Sendy’s affairs, companies, and properties. Because of this, Sendy’s administrators not have the authority to supervise these issues. Per the discover, any occasion holding a declare in opposition to Sendy should submit their declare in writing, together with the required supporting paperwork and proof of debt type, to the administrator by 19 October 2023 for assessment. Which means the administrator is appearing as a consultant of Sendy and isn’t personally accountable for any contacts made on this capability.
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