IN KENYA: Nakumatt Holdings Ltd has suffered yet another blow after 14 landlords said they do not wish the supermarket chain to be their tenant.
The owners of Galleria, Nyali, Likoni, Karen Crossroads, Nakuru, Eldoret Household, and others premises have rejected the proposals for recovery advanced by Nakumatt’s administrator Peter Obondo Kahi saying that they reached the decision after consultations.
The landlords include Norkun Investments, Galleria Ideal Locations, Nyali, Nova Holdings, Nellea, Karen Crossroads, CK Patel, Nanyuki Mall, and Kenindia Assurance said they cannot deal with Nakumatta any further and thus they are more renewing their tenant agreement
Currently Nakumatt is struggling to pay a Kenyan shillings 35.8 billion debt forcing it to closed down some of its stores not only in Kenya, but also in Uganda
STORY BY DAILY NATION.