Nakumatt has closed down its Village Market branch on the grounds of rent arrears, leaving only 8 operational outlets.
The action comes after 14 landlords have declared their interest in separating from the retailer after Tuskys Supermarket pulled out of the deal to rescue the retailer.
Additionally, Sabaki River Holdings Limited (Malindi Mall), South Coast Holdings Limited (Diani Mall), Parkside, owners of Galleria mall and GC Retail, (Garden City Mall) have taken Nakumatt to court opposing the retailer’s re-entry or its eviction.
Nakumatt has also closed its outlets at Westgate, Thika Road Mall (TRM), Bamburi branch in Mombasa, Lunga Lunga branch in Industrial Area, and NextGen in Mombasa.
Nakumatt lost Sh18 billion worth of stock while a report on the retailer shows that its demise is as a result of fraud.
Nakumatt’s administrator Peter Kahi employed experts to carry out a special audit on the discrepancies in the retailer’s book of accounts.
