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Kenyan Government will not help Nakumatt

The supermarket asked for a loan, even Malindi branch at risk

26-06-2017 by redazione

Very hard times for the Nakumatt supermarket chain and its shopping malls where its subsidiaries are located.
Entering the tunnel of a crisis that seems irreversible, the Kenyan company founded more than twenty years ago by the Indian of Nakuru's Shah family, in fact the country's first largest chain, now sees seriously the possibility of closing its Shops, Including the mouthpiece of Malindi.
Besieged by creditors and a tax disputes over which he has already taken interest rates and has asked for time, now the managing director Atul Shah has requested, with an official letter, aid from the keno government, a loan for no Flood and not put on the road almost five thousand employees, including the conveyor of packers, conveyors and manufacturers, smaller affiliated companies.
The answer from Undersecretary to Industry and Commerce Chris Kiptoo has been laconic: there is still no rescue for a company that has not been able to make big and little prudent years of expanding politics.
The arrival of the great international distribution, especially of the French chain Carrefour, gave the so-called "grace of grace" to Nakumatt, which is now in really very agitated water.
The closure of other supermarkets now appears to be the logical consequence of the lack of funds needed to cope with the crisis, which, in addition to suppliers and taxis, is now likely to fall on employees.
While the Nyali branch in Mombasa seems to be one of the few that generate useful, that of Malindi, subject to the seasonality of the resort, might be among the first to jump.

TAGS: Nakumatt MalindiMalindi supermarket

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