Following a burden of debts and cash flow problems, Nakumatt Supermarket has found itself in the unfamiliar territory where it is facing absolute closure.
Currently, the retailer that was once the largest in the country is estimated to be suffering from debts amounting to about Sh. 30 billion.
Consequently, it has been shutting down one branch after the other.
The latest casualty is its branch at the Junction Mall. Below, we have compiled a list of all the branches that the retailer has brought down:
1). Ronald Ngala Branch: This branch was closed following low sales.
2). Nakumatt NextGen: This branch was closed a few months after its grand opening.
3). Nakumatt Thika Road Mall: This branch had rent arrears on top of declining sales and empty shelves.
4). Haile Selasie Branch: This was among the initial branches to be shut down.
5). Nakumatt Junction Mall: The branch was closed following rent disputes with the mall owners.
6). Nakumatt Warehouses: The retailer also closed its two warehouses located along Mombaa Road.
Nakumatt has been struggling to get a fresh capital injection of up to Sh. 7 billion from a strategic private equity firm. Reports have also highlighted a possible takeover of the retailer by rival Tuskys Supermarket.
