One of the Nakumatt branches Photo/Kenyan Wallstreet
Nakumatt Supermarket has made plans to shut down its NextGen Mall branch along Mombasa Road, Nairobi on Saturday.
According to reports, Nakumatt made the announcement and stated that the branch would be closed until further notice.
This follows recent financial struggles over the past few months and threats from creditors to auction the company’s assets should the company fail to pay their debts.
In August workers downed their tools demanding to be paid for the months of June and July. While in June the government stated it would not bail out Nakumatt since it was a private company.
Nakumatt’s Boss Atul Shah blames the government for the company’s recent downfall. He also claims the government is responsible for a fire incident at Nakumatt Downtown which is located in the Nairobi Central Business District following repair works on a nearby transformer.