Theft is the only reasonable explanation as to why they cant pay suppliers. If it was overstocking, they would have items on their shelves but they dont.
Their products are relatively higher priced than their competitors (bigger margins), their target customers has always been middle class and upward (higher spending), they have the best locations and widest reach.
Somebody has to be siphoning money out just like in Uchumi.

You see the difference, in Uganda you don't pay for supplies, they don't supply anymore, while in Kenya suppliers keep on supplying despite non payment.

Hii ndio inaitagwa kuchoma picha!!!

Anyone who never knew the best scenario to use the phrase Kuchoma picha there you are!!!

We are thieves. We steal and as tax are stolen,taxes still rise everyday and stealing keep rising.

We sit down as resources are stolen. No one goes to put pressure on govt about stealing just corrupt mpigs.

Come election we align ourselves under tribal mushroom heads and cocoons. Welcome to Kenya ,our economy is growing at 6.5%

Nakumatt is a private company. No public interest in it just individual shareholders who should initiate the process. Has nothing to do with govt auditing unless govt has shares there

Nakumatt is a private company,it doesn't have any tax payers money so no complainant,the suppliers must make noise to attract the attention of the state or they perish silently

Hii story ya tight cashflow ilianza zamani - causes being ukora, rapid aggressive expansion using short term funds (ODs) to finance long term expenditure. They have been expanding everywhere regionally - how has this been financed?
Its no secret they've been looking for a strategic partner for some time now to help with the financing buy it seems none has been forthcoming meaning the anticipated capital injection has not been forthcoming while bills are rising, and the retail market is shrinking due to mushrooming of all sorts of supermarkets from major ones to small ones in the estates.
Some cash must have gone to mitigate the operational disaster after disaster that visited heir branches - Westgate (alkefafu), Thika Rd (demolition), Ukay(flooding), Downtown (fire), etc that insurance compensatn may not have fully addressed.
All in all, siphoning appears the major culprit as well - Shahs are good in biz and smart enough to squirrel some cash elsewhere for a rainy day

Some of the owners of Nakumatt are the same same people who were behind Charterhouse Bank. As far as am concerned the losses don't add up at all. This is a serious case of creative Accounting to evade tax or funds are being siphoned to offshore Accounts.

Today is Tax Payers Day. Unto caesar....

This is a private company.

Quick question.

Those claiming that its thieving....are the directors (owners of Nakumatt stealing from themselves)? Or the employees are stealing from Nakumatt?

Never play with debt...

Its 2016

I used to work somewhere where the "boss" would call a meeting to discuss certain issues. We would all do our research before the meetings. More often than not, he would hold different opinions from ours. After deliberations and everyone stating their case, our opinions would almost always carry the day and he would be "convinced" we should use our approach. Come the implementation phase, he would do exactly what he wanted in the first place and totally ignore what was agreed on in the meeting.

After he did this a couple of times EVERYONE stopped contributing in meetings. You should have seen the meetings. The guy talks alone and even starts calling people by name "So and so, what do you think?". Nothing!

May be the same is happening to Opus Dei!