Troubles at Nakumatt Supermarkets are not ending any time soon. This is after a fresh volcano burst out. It is now emerging that the retailer is facing the threat of auctioneers over unpaid rent at its Thika Road Mall branch.
According to reports, TRM, through Moran Auctioneers, seized a number of Nakumatt’s assets, including six moving trucks, 400 customer trolleys, office furniture, ovens and other electrical appliances, forcing the retailer to rush to court for an order temporarily suspending the auction.
Court documents show that Nakumatt owed the mall owners Sh. 51,896,027 by June 7, but do not indicate how long the retailer has been in rent default.
The retailer however wants the court to stop TRM’s owners from selling its assets to recover rent arrears, and to bar them from evicting the retail chain from the Roysambu-based facility.
Nakumatt is also battling a separate insolvency petition filed by one of its top suppliers, who is seeking to recover Sh. 70 million in unpaid debt.
African Cotton Industries Limited, the manufacturer of popular tissue paper and sanitary towel brands such as Tena, Flora and Medicott, says in its petition that talks with Nakumatt since May last year have not borne fruit.
The consumer goods manufacturer reckons that three cheques that Nakumatt issued in March this year totalling Sh11 million have bounced, eroding confidence in the state of its finances.
