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    Khusoko – East African Markets
    ECONOMY

    NSE suspends Deacons shares for 40 days

    KhusokoBy Khusoko2018-11-19Updated:2020-04-04No Comments1 Min Read

    The Nairobi Securities Exchange has suspended the trading of shares of Fashion retailer Deacons East Africa for 40 days.
    This will allow Peter Kahi and Atul Shah of PKF Consulting, the joint administrators appointed to the Deacons Board to run its business according to the Insolvency Act.
    “The primary objective of placing the company under administration is to enable it achieve a better outcome for the creditors than would likely to be the case if the company were to be liquidated,” Deacons CEO Muchiri Wahome said in a statement.
    Read: Fashion Retailer Deacons, Poised to Enter Administration
    Deacon’s cash constraints have resulted in a decline in stock levels across most stores, causing reduced margins.

    Deacons East Africa Nairobi Securities Exchange
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    Multimedia platform providing analysis of business & financial news in East Africa.

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