Nakumat kitale branch has been closed.
Could anyone please share Nakumat latest financial report? thats the sure way we will know the real cause of their problem.

The plaintiff (City Mall, Mombasa/Ideal Location Ltd) further argues that it developed the mall for investment and not for charity purposes and since Nakumatt is no longer in a position to pay rent, it should vacate immediately.

Mr Oluga further told the court that Nakumatt’s continued occupation of the premises does not have any useful purpose since it no longer does any meaningful business and the shelves are virtually empty.

The plaintiff argued that the possibility of Nakumatt paying rent is very remote especially after its much touted merger with Tusker Mattresses Ltd has been faced with serious objection.

Ideal Location Ltd argued that if Nakumatt continues to occupy the premises, the mall is likely to turn into a deserted and ghost structure with no traffic, hence it will affect the overall value of the prime commercial enterprise.

How things change.....no business is too big to fail.

https://www.nation.co.ke...73596-3m763y/index.html

Some are too big perhaps probably because of the intrinsic value they pack in the operations. Nakumatt is by far the most agile and bold retailer in the market. It is unlikely the agility and boldness would escape value investors.

Now with the admin in place, watch the reconstruction of the business. Tuskys will probably get involved. I will not be surprised if 12 months from now Nakumatt is firing on majority of the cylinders. Lesson being do not underestimate the life of a Kenyan business....business know their home markets well. Just as you would not wish away America airlines in the US market you can't wish away some of our retailers.