18 C
Kenya
Saturday, September 21, 2019
  • NEWS

Troubled Nakumatt shuts down more branches

Must Read

BRT buses’ lane on Thika Superhighway to cost Sh. 5.8 billion

BRT Buses Kenya: BY BUSINESS DAILY: Taxpayers will spend Sh. 5.8 billion to construct a lane for high-capacity buses...

Why your car is consuming more fuel than normal

Fuel Consumption of Toyota Fielder, Fuel consumption of Toyota Premio or fuel consumption of any vehicle: why is it...

Mercedes Benz club ladies to hold safety drive in Nairobi

She's Mercedes: The She's Mercedes ladies will this Saturday hold a safety drive within Nairobi and its environs. The...

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.

- Advertisement -

Latest News

BRT buses’ lane on Thika Superhighway to cost Sh. 5.8 billion

BRT Buses Kenya: BY BUSINESS DAILY: Taxpayers will spend Sh. 5.8 billion to construct a lane for high-capacity buses...

Why your car is consuming more fuel than normal

Fuel Consumption of Toyota Fielder, Fuel consumption of Toyota Premio or fuel consumption of any vehicle: why is it too high? Why is it...

Mercedes Benz club ladies to hold safety drive in Nairobi

She's Mercedes: The She's Mercedes ladies will this Saturday hold a safety drive within Nairobi and its environs. The drive is scheduled to start...

Top 5 cheapest yet interesting rental cars in Los Angeles

Los Angeles is one of the most attractive destinations for individuals looking to go on a holiday or weekend getaway with friends or families....

Jambojet Receives Rights To Fly To Kigali, Rwanda

The approval means that the airline can begin operations to the destination as part of its regional expansion strategy. “We are pleased to have received...

More Articles Like This

- Advertisement -
%d bloggers like this: