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Nakumatt: Another ailing Kenyan company
Rank: Member Joined: 10/24/2013 Posts: 455 Location: Nairobi
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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When it rains, it pours! But surely, why would they give 12 cheques to one supplier knowing very well that they will all bounce???
BBI will solve it :)
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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The price for unnecessary expansion, wanting to be in every mall "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 2/20/2015 Posts: 467 Location: Nairobi
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2012 wrote:When it rains, it pours! But surely, why would they give 12 cheques to one supplier knowing very well that they will all bounce??? My suspicion is that the under-stocked branches are what Nakumatt will downsize on and they probably just letting the lease run out and current stock sell out before announcing closure of those branches. There was some #fakeNews of branches to be closed and TRM was one of them. TRM probably already suspecting Nakumatt is getting out and wants to cut its losses.
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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kawi254 wrote:2012 wrote:When it rains, it pours! But surely, why would they give 12 cheques to one supplier knowing very well that they will all bounce??? My suspicion is that the under-stocked branches are what Nakumatt will downsize on and they probably just letting the lease run out and current stock sell out before announcing closure of those branches. There was some #fakeNews of branches to be closed and TRM was one of them. TRM probably already suspecting Nakumatt is getting out and wants to cut its losses. You could be right, but I believe that the company as a whole is in trouble.. It may not be just a TRM issue
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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kawi254 wrote:2012 wrote:When it rains, it pours! But surely, why would they give 12 cheques to one supplier knowing very well that they will all bounce??? My suspicion is that the under-stocked branches are what Nakumatt will downsize on and they probably just letting the lease run out and current stock sell out before announcing closure of those branches. There was some #fakeNews of branches to be closed and TRM was one of them. TRM probably already suspecting Nakumatt is getting out and wants to cut its losses. @Kawi Do you have the list of the branches that were to be closed down in the fake news. Some of these things might actually turn out to be true Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Ericsson wrote:kawi254 wrote:2012 wrote:When it rains, it pours! But surely, why would they give 12 cheques to one supplier knowing very well that they will all bounce??? My suspicion is that the under-stocked branches are what Nakumatt will downsize on and they probably just letting the lease run out and current stock sell out before announcing closure of those branches. There was some #fakeNews of branches to be closed and TRM was one of them. TRM probably already suspecting Nakumatt is getting out and wants to cut its losses. @Kawi Do you have the list of the branches that were to be closed down in the fake news. Some of these things might actually turn out to be true No fake news.. Some links to help http://www.newvision.co....t-shuts-branches-uganda
http://www.the-star.co.k...-hiring-in-cost_c1557288
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Ericsson wrote:kawi254 wrote:2012 wrote:When it rains, it pours! But surely, why would they give 12 cheques to one supplier knowing very well that they will all bounce??? My suspicion is that the under-stocked branches are what Nakumatt will downsize on and they probably just letting the lease run out and current stock sell out before announcing closure of those branches. There was some #fakeNews of branches to be closed and TRM was one of them. TRM probably already suspecting Nakumatt is getting out and wants to cut its losses. @Kawi Do you have the list of the branches that were to be closed down in the fake news. Some of these things might actually turn out to be true TRM, Garden City, Lavington, Westlands* , Embakasi and Kitisuru.There are two more I cant remember.
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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whiteowl wrote:Ericsson wrote:kawi254 wrote:2012 wrote:When it rains, it pours! But surely, why would they give 12 cheques to one supplier knowing very well that they will all bounce??? My suspicion is that the under-stocked branches are what Nakumatt will downsize on and they probably just letting the lease run out and current stock sell out before announcing closure of those branches. There was some #fakeNews of branches to be closed and TRM was one of them. TRM probably already suspecting Nakumatt is getting out and wants to cut its losses. @Kawi Do you have the list of the branches that were to be closed down in the fake news. Some of these things might actually turn out to be true TRM, Garden City, Lavington, Westlands* , Embakasi and Kitisuru.There are two more I cant remember. Embakasi they are relocating to the adjacent South Field mall Westlands most probably will be UKay they will be shutting down. Garden city--May be TRM--May be Kitusuru--May be Lavington--May be Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 10/13/2014 Posts: 28
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Is it true that TRM is owned by Thiagarajan Ramamurthy (TRM)?
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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KondooEconomist wrote:Is it true that TRM is owned by Thiagarajan Ramamurthy (TRM)? SMH
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Some one took the money somewhere. Question ? Does one steal from himself ?
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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streetwise wrote:Some one took the money somewhere. Question ? Does one steal from himself ? Retail in Kenya is dying..
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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obiero wrote:streetwise wrote:Some one took the money somewhere. Question ? Does one steal from himself ? Retail in Kenya is dying.. It's undergoing a reset due to poor planning. Confirm if it's true that Nakumatt/Atul Shah paid Harun Mwau sh.3bn to acquire bis 7.7% stake Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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obiero wrote:KondooEconomist wrote:Is it true that TRM is owned by Thiagarajan Ramamurthy (TRM)? SMH Reminds me of the Moi era rumour that BIDCO was BIwott Daniel COmpany...
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Rank: Member Joined: 1/22/2015 Posts: 682
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obiero wrote:wukan wrote:obiero wrote:maka wrote:hardwood wrote:http://www.businessdailyafrica.com/corporate/Nakumatt-fights-to-stop-auctioneers-in-TRM-rent-war/539550-3997462-uyivd1z/index.html Quote:Retail chain Nakumatt’s troubles have deepened after one of its creditors, Thika Road Mall (TRM), attached large amounts of the supermarket’s goods and equipment seeking to recover Sh51 million in rent arrears.
TRM, through Moran Auctioneers, seized a number of Nakumatt’s assets, including six moving trucks, 400 customer trolleys, office furniture, ovens and other electrical appliances, forcing the retailer to rush to court for an order temporarily suspending the auction. Waah free fall... Rent lazima walipe.. Hope the court hears none of the nonsense Kifo cha nyani moment...TRM does not want to be caught up with Section 472 and 481 Quote:If a person (whether or not a landlord or person entitled to rent) has distrained on the property of the company during the three months immediately preceding the date of the liquidation order, that property, or the proceeds of its sale, is charged for the benefit of the company with the preferential debts of the company to the extent that the company's assets are for the time being insufficient to satisfy them. Quote:the creditor is not entitled to retain the benefit of the execution or attachment against the liquidator unless the creditor has completed the execution or attachment before the commencement of the liquidation Sad that this monkey is another victim of the interest rate cap it can't access credit to keep it running. Other monkey firms will go down with this monkey. Credit runs the economy, if Nakumatt of all companies is being denied credit, what about Simo wa carwash or Jane wa Abuja braids Let's not bring Jubilee into this matter. Nakumatt is where it is because of poor debt management. You want them to seek more debt to pay off bad debt? Business would become insolvent before the year is out.
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Rank: Elder Joined: 7/22/2008 Posts: 2,703
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Woie!!! Auctioneers are crazy. What are they going to do with 11 packets of KCC Delight Yogurt and 400 shopping trolleys??
This is going to get ugly because I hear Nakumatt actually does not own anything in its stores. The inventory belongs to the suppliers who are paid after goods are sold. All shelves in the store and other tools of trade including I suspect the shopping trolleys and fridges are leased from third parties, premises are all rented so the only thing that Nakumatt owns is the name Nakumatt.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Kusadikika wrote:Woie!!! Auctioneers are crazy. What are they going to do with 11 packets of KCC Delight Yogurt and 400 shopping trolleys??
This is going to get ugly because I hear Nakumatt actually does not own anything in its stores. The inventory belongs to the suppliers who are paid after goods are sold. All shelves in the store and other tools of trade including I suspect the shopping trolleys and fridges are leased from third parties, premises are all rented so the only thing that Nakumatt owns is the name Nakumatt. The only colateral banks n suppliers have is "trust"
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Nakumatt: Another ailing Kenyan company
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