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Nakumatt: Another ailing Kenyan company
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hardwood
#551 Posted : Monday, October 30, 2017 1:50:37 PM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
19 landlords sue Nakumatt for Sh600m rent arrears


http://www.businessdaily...1510-ax1wc0z/index.html

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Pesa Nane
#552 Posted : Monday, October 30, 2017 9:45:15 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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murchr
#553 Posted : Monday, October 30, 2017 10:04:10 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
"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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Angelica _ann
#554 Posted : Monday, October 30, 2017 10:06:37 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
murchr wrote:


Wakora kabisa when they know focus is at BOMAS & presidential results!!!!!
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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obiero
#555 Posted : Monday, October 30, 2017 10:07:58 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,217
Location: nairobi
murchr wrote:

There was no other option

KQ ABP 4.26
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pops
#556 Posted : Monday, October 30, 2017 10:22:56 PM
Rank: Member

Joined: 9/13/2006
Posts: 123
Still trying to understand what exactly nakumatt strategy is. Someone enlighten me please.
1. Why would tuskys want to take 51% of Nakumatt. What would they gain apart from 51% of a 40 billion of debt? Surely that's like throwing good money after bad? No other investor is willing to to touch them so why Tuskys?
2. Wouldn't it be easier for the owners of Nakumatt to be declared insolvent and wound up? Why are they intent on dragging this charade on? Nakumatt has lost credibility so it's brand is worthless now. Even if things were good and they made 1 billion profit every year, it will take decades to pay its creditors back!
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Ericsson
#557 Posted : Tuesday, October 31, 2017 2:51:18 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
pops wrote:
Still trying to understand what exactly nakumatt strategy is. Someone enlighten me please.
1. Why would tuskys want to take 51% of Nakumatt. What would they gain apart from 51% of a 40 billion of debt? Surely that's like throwing good money after bad? No other investor is willing to to touch them so why Tuskys?
2. Wouldn't it be easier for the owners of Nakumatt to be declared insolvent and wound up? Why are they intent on dragging this charade on? Nakumatt has lost credibility so it's brand is worthless now. Even if things were good and they made 1 billion profit every year, it will take decades to pay its creditors back!


Just wait;with time you shall see if that strategy worked.
Just know there is more in the background than what you are seeing.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Euge
#558 Posted : Tuesday, October 31, 2017 8:38:46 AM
Rank: Elder

Joined: 8/4/2008
Posts: 2,849
Location: Rupi
I hadn't been to Nakumatt since it started "falling". On Friday last week I went to Nakumatt Ukay, I was looking for some very nice sweet corn that they used to sell. There's almost nothing. Workers are idling and chatting away. Really vindu vichenjanga
Lord, thank you!
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KulaRaha
#559 Posted : Tuesday, October 31, 2017 10:21:50 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Strategy is to go into administration. That halts them from paying old debts. Then try and restore the business without that burden.

Screw the banks and the suppliers. Banks can claim administration so no need to provide (or cook provisions). Suppliers will write off as cost of doing business.

Accept and move on. Its the Kenyan way...
Business opportunities are like buses,there's always another one coming
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Ericsson
#560 Posted : Tuesday, October 31, 2017 10:53:11 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
KulaRaha wrote:
Strategy is to go into administration. That halts them from paying old debts. Then try and restore the business without that burden.

Screw the banks and the suppliers. Banks can claim administration so no need to provide (or cook provisions). Suppliers will write off as cost of doing business.

Accept and move on. Its the Kenyan way...


They are fearing going into oblivion coz all the branches may shut if things continue as they are and the brand erased.
Going into administration is to shield the assets from being attached and sold by the the creditors,give more time to figure out how they can start repaying their debts
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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