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End of an era as Nakumatt dissolved after creditors’ vote
Nakumatt, which grew from a mattress shop in Nakuru to have branches across Kenya and East Africa, was forced to close down dozens of outlets from 2017 as it struggled to repay its suppliers, landlords and other creditors. FILE PHOTO | NMG
Nakumatt creditors on Tuesday voted to dissolve the former giant retailer, dimming any hopes of recovering Sh38 billion the supermarket owes creditors.
About 97 percent of the 169 creditors present at the meeting in Nairobi supported the retail chain’s dissolution, formally ending the Nakumatt brand.
