So what do we say about Uchumi & Tuskys too.. There is a problem in retail caused by the state of flux in our economy.. Most people now lack buying power. The layoffs in almost all sectors of the economy coupled with a ballooning inflation are cutting supermarkets right at the knees. Nakumatt was a strong brand with quality management. I blame the macro environment, not its shareholders

I have only seen one of those VWs in these streets

Uchumi....really...How is gross mismanagement and theft by top management the governments fault. Nakumatt was also a mismanaged supermarket and the chickens have come home to roost. Even in their ''hey days'' it would take them more than one year to pay ''non-essential'' suppliers. Plus they had unwarranted rapid expansion in practically every mall being built.
Naivas, Quickmart, Tuskys are currently on expansion mode given the right location. So how has the government interfered with their expansion??

The fact that Ciano and Co walk the streets as if nothing happened, while an auditor rests six feet under, says it all. We can all bury our heads in the sand and sing kumbayah but the fact remains that government in this country and the continent at large has by and large failed the populace. The other supermarkets are merely enjoying the space created by absence of the former retailers.. It's sad

The former MD of Nakumatt (ramma--something) recently tweeted about the mismanagement and unplanned withdrawal of cash by owners, family fights, and deviation from core business etc as the main cause of Nakumatt fall, not rapid expansion as many would think, add to that the shady connection to tilley or is it tilly and imperial bank.things got even thicker when Mwau left.

Bankers, suppliers and retailers today petitioned Trade PS Chris Kiptoo to intervene on their behalf to have Nakumatt settle outstanding debts

Nakumatt expanded using short to medium term debt heavily skewed towards short term. Unfortunately Chase and IMperial happened and the short term debt they enjoyed in the commercial space dried up (a lot of depositors in Chase and Imperial were investors in the Nakumatt CP). They paid down the CP from Kshs 8.5Billion to Kshs 4Billion in 2016 while servicing the bank debt from 13B to 8.5B. In total they paid 9 Billion from their operations. They had no choice either pay or got defaulted.

Sales in 2016 were down 15% on account of our new found betting craze and state of the economy. This has not happened to them since they went mainstream in Nairobi.

Obiero you are right, the economy is seriously struggling and all the retailers are feeling the heat. The next big supermarket will start wailing very shortly and the other is not too far.

However we will probably see Nakumatt shrinking coverage to survive a not so good sign of the state of the economy.

Same story from Village Market, but I think the construction and the two new malls nearby may have also contributed.

BTW they are in rent arrears there as well.

WalidIshi...

I parked in front of Nakumatt Mega yesterday evening for only five minutes. I came back and found the corner light had been removed. I called toyota today to ask for the price on a new corner light. It is KES31,000. I now understand why thieves should be lynched.