A major supermarket in Kenya, Nakumatt is facing a huge crisis as it struggles to pay suppliers.
The retail chain company which has provided hundreds of people jobs in East Africa is facing threats of liquidation and is now in court to prevent creditors from auctioning its assets.
According to Daily Nation in Kenya, Thika Road Mall (TRM), one of the creditors of Nakumatt went to court to recover rent owed it after prolonged negotiations to settle the rent arrears failed.
Nakumatt owes TRM rent arrears worth nearly half a million dollars.
The supermarket has also gone to court to stop TRM’s owners from selling its assets to recover the rent arrears, and to bar them from evicting the retail chain from the Roysambu-based facility.
Nakumatt has had to close some of its branches in Uganda and Kenya as it is unable to access products such as bread to sell to its customers.
The Kenya government is hoping to help mediate between Nakumatt and creditors to prevent any crisis ahead of next month’s presidential elections.
Source: Africafeeds.com
