Biscuit manufacturer Britannia, a prominent player in the food industry, is on the brink of liquidation following its placement under administration in 2021.
Britannia encountered financial troubles after defaulting on loans amounting to more than KSh1.3 billion, sourced from Diamond Trust Bank (DTB) and other creditors.
The liquidation process was confirmed in a Kenya Gazette notice released by the appointed liquidator, Peter Kahi of PKF Consulting.
Britania Foods Ltd (in liquidation) pic.twitter.com/sk1V3j2Arc
— Julians Amboko (@AmbokoJH) July 7, 2023
Despite efforts to restructure the company and negotiate repayment plans, Britannia was unable to rectify its financial situation and avoid liquidation.
The liquidation process will involve the sale of its assets to settle outstanding debts owed to creditors.
Founded in 1987, the company is known for its specialities: Digestive, Nice, Marie, Family, Digestive Sugar-Free, Digestive Oats, Ginger Nuts, Shortcake, Milk Biscuits, and Malt Biscuits.