Kingfisher starts paying Feb salaries to staff

Earlier, Kingfisher management had set a deadline of May 31 this year to clear all salary dues outstanding since February. However, that deadline was missed.

Kingfisher has faced staff agitation over non-payment of salaries, and is under pressure from its lenders to come up with a turnaround plan.

Sources say that around 40% of all its junior level ground staff salary has been cleared off. It is also learnt that the management has told other employees that it hopes to clear the balance of salaries due to junior employees as well as clear all dues to other employees by the end of day today.

These source of funds are really coming in from within the UB Group and that if it is able to raise additional funds only then it will manage to clear the dues of all other employees.

However, UB Group has not commented yet on the development.

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