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Nakumatt supermarket to be liquidate

End of the journey seems to be near for kenyan chain

01-11-2017 by redazione

After long agony, as a terminal patient to whom limbs and organ extracts are periodically cut, the Kenyan supermarket chain Nakumatt may have come to an end.
It is the big creditors who have asked for the company to be put into liquidation, who have not served to get rid of some of the branches scattered throughout the country, to sell off those opened in Uganda and seek new partnerships with other large retailers.
At the semi-pull shelves of the Malindi shopping centre, the condition of the much larger one of Nyali, formerly the pride of the company based in Nakuru, is now mirrored.
Only two of the big creditors, Brookside (owned by the multinational Danone) and Chandaria, must have almost 1 billion shillings from Nakumatt (approximately €82 million).
The company's top management asked for court-supervised administration to reach an agreement on debt payments by selling the property and equipment.

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