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Nakumatt: Another ailing Kenyan company
Rank: Veteran Joined: 1/10/2015 Posts: 961 Location: Kenya
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Was at Nakumatt Galleria and was shocked by what I saw. It should be next to shut down. Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
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Rank: Veteran Joined: 1/10/2015 Posts: 961 Location: Kenya
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KulaRaha wrote:watesh wrote:Impunity wrote:Ericsson wrote:Nakumatt exits junction mall That's a perfect junction for carre4.I hope they seize the chance immediately. Best choice for a replacement Word is that deal is already done, just like TRM. We should support local supermarkets. Not foreign ones that repatriate all their profits leaving the country poorer. Also I understand carre4 is very unfriendly to suppliers since they have to pay millions to have their products stocked at carre4 as well as monthly fees, and you are also charged everytime when you deliver fresh stock. http://www.businessdaily...92/-/frvm0v/-/index.htmlProverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
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Rank: Veteran Joined: 1/10/2015 Posts: 961 Location: Kenya
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Ericsson wrote:Nakumatt exits junction mall They didnt "exit", they were "kicked out" due to rent arrears. Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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sqft wrote:Ericsson wrote:Nakumatt exits junction mall They didnt "exit", they were "kicked out" due to rent arrears. So what happens to the suppliers merchandise when the store is cramped in such a manner? "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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sqft wrote:KulaRaha wrote:watesh wrote:Impunity wrote:[quote=Ericsson]Nakumatt exits junction mall That's a perfect junction for carre4.I hope they seize the chance immediately. Best choice for a replacement Word is that deal is already done, just like TRM. We should support local supermarkets. Not foreign ones that repatriate all their profits leaving the country poorer. Also I understand carre4 is very unfriendly to suppliers since they have to pay millions to have their products stocked at carre4 as well as monthly fees, and you are also charged everytime when you deliver fresh stock. http://www.businessdaily...2/-/frvm0v/-/index.html[/quote] Nonsense! They are the only supermarket chain paying suppliers...Naivas and Tuskys are just as bad as Nakumatt, minimum wait is 120 days. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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These guys are joking  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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64m stock is a kiosk for junction standards "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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mlennyma wrote:64m stock is a kiosk for junction standards 64 million is a lot of money, but in other news; our economy 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: Member Joined: 1/22/2015 Posts: 682
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kayhara wrote:Actually the junction is not a very nice location for any high end store, with all the better located easily accessible malls around I think that's why they let go, same with NextGen who places a mall on the way into town? even South C guys have to go round Mombasa road, TRM was a high traffic low sales store did't make business sense, if Nakumatt close Mega,Westgate, and Village market then I will know the elephant has died. Village Market is a really bad location. Might be sandwiched between all the lucrative suburbs, but those suburbs are the least population dense places in Nairobi, so it's very low traffic. Also Village is very inaccesible on foot, so you'll not find random walk-in business there. When you go to Village, it is very pre-meditated exactly what you are going there to do.
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Rank: Member Joined: 1/22/2015 Posts: 682
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To be fair, they seem to have honored their bargain, but I think Junction got an offer they can't refuse from elsewhere and had enough of Nakumatt drama
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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French retailer Carrefour to take TRM space after Nakumatt exit http://www.businessdaily...21592-l4bx2bz/index.html
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Mike Ock wrote:
To be fair, they seem to have honored their bargain, but I think Junction got an offer they can't refuse from elsewhere and had enough of Nakumatt drama
 Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Mike Ock wrote:kayhara wrote:Actually the junction is not a very nice location for any high end store, with all the better located easily accessible malls around I think that's why they let go, same with NextGen who places a mall on the way into town? even South C guys have to go round Mombasa road, TRM was a high traffic low sales store did't make business sense, if Nakumatt close Mega,Westgate, and Village market then I will know the elephant has died. Village Market is a really bad location. Might be sandwiched between all the lucrative suburbs, but those suburbs are the least population dense places in Nairobi, so it's very low traffic. Also Village is very inaccesible on foot, so you'll not find random walk-in business there. When you go to Village, it is very pre-meditated exactly what you are going there to do. Nobody walks to Village lol. Basket value prob 3 times higher than trm or mega. They'll be kicked out shortly, watch. Business opportunities are like buses,there's always another one coming
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Rank: Member Joined: 9/13/2006 Posts: 123
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I was at village market yesterday and it looks like Nakumatt are packing up to leave. Sections are empty and shelves and fitting were being removed. If you cannot pay the rent then accept reality and move! I think junction are justified in their move. I am wondering why Nakumatt are unwilling to accept the reality and ease the pain they are causing all their stakeholders?
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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: 2/16/2007 Posts: 2,114
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Let's just say that the tenant can pay rent without restocking why would the landlord insist on restocking? Pesa Nane wrote:Mike Ock wrote:
To be fair, they seem to have honored their bargain, but I think Junction got an offer they can't refuse from elsewhere and had enough of Nakumatt drama
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Chaka wrote:Let's just say that the tenant can pay rent without restocking why would the landlord insist on restocking? Pesa Nane wrote:Mike Ock wrote:
To be fair, they seem to have honored their bargain, but I think Junction got an offer they can't refuse from elsewhere and had enough of Nakumatt drama
[img]https://pbs.twimg.com/media/DLJf81YWsAI2_C_.jpg:large/img] The anchor tenant must always be well stocked to maintain/increase footfall kwa the mall. Paying rent isnt enough.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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So what happens to the money they raised via CP....ama imeogelea maji? Kuna watu wataumia... http://www.businessdaily...003512-65a016/index.htmlpossunt quia posse videntur
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Rank: Member Joined: 1/22/2015 Posts: 682
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pops wrote:I was at village market yesterday and it looks like Nakumatt are packing up to leave. Sections are empty and shelves and fitting were being removed. If you cannot pay the rent then accept reality and move! I think junction are justified in their move. I am wondering why Nakumatt are unwilling to accept the reality and ease the pain they are causing all their stakeholders?
I've been shouting this message for the last week or so. Glad to see others are coming around to see it my way. It was sad for the first few months of the year and you hoped they could turn it around, but now we are on month 10 of suffering and it's just become annoying.
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Nakumatt: Another ailing Kenyan company
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