The administrator of Kenya's debt-laden ARM Cement will ask its creditors for support keeping the company afloat by selling some of its assets to cut debt, as well as a plan to engage with financiers for working capital.
George Weru, a co-administrator for the cement firm, told Reuters the proposals will be put to the company's creditors on Tuesday when they meet them to chart the best way forward.
The company was put into administration in August by some of its creditors and its shares suspended from the Nairobi bourse.