Dozens of landlords managing retail space have also dispatched auctioneers to recover rent arrears from failing businesses. At an auction set for next week, Kenya Shield Auctioneers hope the six-storey Laibon Hotel can fetch between Sh175 million and Sh190 million. Legacy Auctioneers had announced that the retailer’s items would be sold to recover more than Sh12 million rent arrears owed to its client. It is not as though things were any better for Uber drivers before Covid-19 came around. This went up to Sh24.7 billion in February, Sh38.4 billion in March before plunging to Sh7 billion in April.

Source: Standard Digital August 11, 2020 06:56 UTC