Troubled retailer Nakumatt Supermarket has closed yet another branch in Nairobi as its cash troubles spiral out of control.
Nakumatt closed its Junction branch in Nairobi from Sunday October 1.
In a public notice released Sunday, the cash-strapped retailer said it had relinquished its rights over the premises pursuant to a surrender dated September 15, 2017.
“The premises will be closed to the public from October 1, 2017 and no trading will be permitted at the premises,” read the notice.
Last month, the retailer shut down its Thika Road Mall (TRM) branch, barely a month after closing its outlet at the NextGen Mall on Mombasa Road after just nine months of operations.
In February, the retailer shut its Ronald Ngala branch, citing low sales, and earlier in the year it closed a branch in Uganda that had accumulated rent arrears estimated at about Sh8.5 million.
It also shut down one of its two warehouses – where it stored imported goods as well as furniture and electronics on Mombasa Road.
