Nakumatt Under Fire Over Sh600 Million Outstanding Debts

Nakumatt Supermarket is in the hot seat once again after several of its land owners have moved forward to with their plans to evict the retailer chain and terminate its lease(s).

According to reports, 19 land owners have filed a petition in court demanding that Nakumatt settle rent arrears. The group of land lords come from Nairobi, Kericho, Kakamega and Nakuru.

Despite reports of a possible buyout by Tuskys supermarkets several mall owners have shown lack of confidence in the retailer and as a result have pushed forward with their demands.

The owners have also expressed interest in replacing the retailers space after the retailer has failed to sustain itself.

Read: Tuskys Inches Closer To A Possible Merger With Nakumatt

“It has since been disclosed that Nakumatt intends to relinquish certain premises as part of its recovery plan but to date it has failed to give full details of the affected premises. High Park Investments and Highport Properties continue to incur losses on account of lost rent for the subject premises,” said the mall owners of Nairobi’s Galleria Mall.

In related news, South African retailer chain Shoprite has expressed its interest in tapping into the Kenyan market.

“We are currently in talks with some of the property owners but nothing has been signed,” Shoprite director Gerhard Fritz said.

Shoprite is currently awaiting to see how the buyout deal between Tuskys and Nakumatt plays out before coming to a final decision.

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