Nakumatt Closes Down Three Branches In Uganda, Is This the End of the Error

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The woes facing the once vibrant retail chain Nakumatt seem to be far from over as the retailer opted to close down three of its branches in Uganda.

Nakumatt has closed down the Acacia Mall in Kilolo, Village Mall in Bugolobi and Victoria Mall in Entebbe.

This comes just two months after Nakumatt shut down its branch in Katwe following huge rent arrears and just weeks after word went round that the retailer had closed down seven branches in Nairobi.

Nakumatt has been going through a financial turmoil with debts running into more than 150 million US Dollars.

 

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