Francis Muli
Cash-strapped Nakumatt has closed its Nakumatt Mega branch, for good.
The chain retailer announced this through a notice to its customers yesterday, advising them to visit its remaining branches in the country.
So far, the retailer remains with six branches across the country which include Prestige, Lavington, Embakasi, Mega City (Kisumu), Nakuru and Highridge which was reopened recently.
Mid this year,Nakumatt Holdings CEO Atul Shah said the firm is collaborating with the Court Appointed Administrator Peter Kahi to recalibrate the business through the remaining seven branches.
“At all the seven Nakumatt BounceBack branches, customers can enjoy a refreshed Nakumatt experience with a wide variety of shopping items. We have also rolled out special offers on more than 25,000 items to provide added value for our loyal shoppers,” said Shah in June.
Read: Kenyans Transacted Ksh1.9 Trillion In Mobile Money In Three Months, Report
However, the retailer seems to be facing a bleak future, reeling under a Ksh30 billion debt owed to its suppliers, landlords and lenders.
The branches closed so far include Bamburi branch in Mombasa, the Lunga Lunga outlet in Nairobi’s Industrial Area, NextGen (along Mombasa Road, Thika Road Mall (Thika Road), Galeria Mall, City Hall, Village Market and Nakumatt Moi Avenue.
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