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Troubled Nakumatt shuts down more branches

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Nakumatt Supermarkets has announced that it will shut down more branches beginning this month.

the branches will be closed in both Kenya and Uganda. The first to be axed will be Nakumatt Haile Selassie Avenue branch in Nairobi,.

This branch located at the Kenyatta University Plaza, Nairobi, is expected to be shut down this month.

“The branch culling strategy will start off with sub-optimally performing branches for whose leases contracts are due for renewal to be followed by branches in poor locations,” said Atul Shah, Nakumatt managing director.

The closure of its Haile Selassie outlet brings the retailer’s branches to 62.

Nakumatt further announced that it has started reducing its store keeping unit (SKU) exposure by delisting slow-moving products.

Additionally, the supermarket has shut down one of its two warehouses (where it stores imported goods as well as furniture and electronics) along Mombasa Road.

The supermarket is currently fighting to cut back on huge debt owed to suppliers estimated at Sh. 15 billion as at February 2015, a situation that has been piling pressure on its operations.

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