The largest retailer in Kenya Nakumatt has closed down seven branches in Nairobi further bringing to the surface the reality in terms of economic turmoil that the retailer is facing.
According to the announcement, Nakumatt has closed down Westland, Lavington, TRM, Embakasi, Garden City and the New Kitsuru branches raising more questions as to whether the once vibrant retailer is in the last kicks of its demise.
Nakumatt has been experiencing problems with its suppliers who have been complaining of the retailer’s failure to pay them. It is said that Nakumatt owes suppliers more than 8 billion shillings.
Workers are also complaining that they have not been paid their dues for the month of May even as June comes to an end.
The government had shown an interest in helping Nakumatt come out of the woods but the details of the intention are yet to emerge.
Is Nakumatt going down the same path taken by Uchumi Supermarket? Only time will tell.