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Nakumatt: Another ailing Kenyan company
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Ericsson
#371 Posted : Monday, August 21, 2017 9:59:23 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
Uganda Revenue Authority shuts down 3 Nakumatt shops in Kampala due to a tax debt of $86,000 & $1.3 million owed to suppliers
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winston
#372 Posted : Tuesday, August 22, 2017 9:53:05 AM
Rank: Member

Joined: 4/14/2010
Posts: 806
Location: Nairobi
Ericsson wrote:
Uganda Revenue Authority shuts down 3 Nakumatt shops in Kampala due to a tax debt of $86,000 & $1.3 million owed to suppliers


When it rains, it pours!
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Ericsson
#373 Posted : Tuesday, August 22, 2017 10:29:06 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
Wonders ndio hizo zimeanza kujionyesha
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KulaRaha
#374 Posted : Tuesday, August 22, 2017 12:25:04 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Mall owners are sick of Nakumatt. They want to move on, but Nakumatt is refusing to go despite not paying rent.

Tenants of malls are also getting impatient as Nakumatt is affecting footfall.

The end is nigh.
Business opportunities are like buses,there's always another one coming
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watesh
#375 Posted : Tuesday, August 22, 2017 8:23:09 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
The Goodwill in this company is really really depreciating. Even investors will be afraid to inject capital....the shelves are so empty and workers not motivated at all.
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winston
#376 Posted : Wednesday, August 23, 2017 9:25:49 PM
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Joined: 4/14/2010
Posts: 806
Location: Nairobi
I am surprised the asian community has not cobbled something to save this gaint.
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obiero
#377 Posted : Wednesday, August 23, 2017 9:30:42 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,322
Location: nairobi
winston wrote:
I am surprised the asian community has not cobbled something to save this gaint.

Read about the caste system for Kenyan Indians
COOP, IMH, KEGN, KQ, MTNU
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pops
#378 Posted : Wednesday, August 23, 2017 10:00:14 PM
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Joined: 9/13/2006
Posts: 123
Why would Asian community want to save this giant? The owners are not exactly sweating. They have siphoned off a cool 25 billion and are now pretending to be in financial distress. I don't think they care what way Nakumatt goes. Only the suppliers and landlords are screwed. How do you think a business this big grows without any investment is assets? This was intentional. My heart goes out to the people who trusted them.
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obiero
#379 Posted : Wednesday, August 23, 2017 10:20:09 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,322
Location: nairobi
pops wrote:
Why would Asian community want to save this giant? The owners are not exactly sweating. They have siphoned off a cool 25 billion and are now pretending to be in financial distress. I don't think they care what way Nakumatt goes. Only the suppliers and landlords are screwed. How do you think a business this big grows without any investment is assets? This was intentional. My heart goes out to the people who trusted them.

Well written @popat
COOP, IMH, KEGN, KQ, MTNU
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Ericsson
#380 Posted : Tuesday, August 29, 2017 9:07:49 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
High Court stops owner of High Park Mall in Nairobi's Parklands from attaching Nakumatt properties over unpaid Sh 9.0 million rent
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