Nakumatt supermarket in Nairobi, Nakumatt Junction branch.
Nakumatt supermarket is completely dead. PHOTO | BMS

The once largest Supermarket in Kenya is now completely dead. The 
supermarket chain Nakumatt Holdings' view of reviving it hit a dead end. This is after Nakumatt creditors unanimously voted to dissolve the outfit after all plans to restore it failed.

Nakumatt was regarded as the largest Kenyan retailer, with 62 branches across the region, 45 in Kenya, 9 in Uganda, 5 in Tanzania and 3 in Rwanda and a Gross turnover of KSh 52.2 billion.

According to reports, the biggest creditors are banks, who are owed KSh 6.9 Billion, Kenya Revenue Authority (KRA) KSh 1.8 Billion and Trade Creditors KSh 18.6 Billion.

Having assessed Nakumatt’s last audited accounts as of February 2016, and management accounts as of 31 December 2017, Nakumatt’s total debt was KSh 35.8 Billion.

Post a Comment

What is your say on this

Previous Post Next Post

Adblocker detected! Please consider reading this notice.

We've detected that you are using AdBlock Plus or some other adblocking software which is preventing the page from fully loading.

We don't have any banner, Flash, animation, obnoxious sound, or popup ad. We do not implement these annoying types of ads!

We need money to operate the site, and almost all of it comes from our online advertising.

Please add to your ad blocking whitelist or disable your adblocking software.