Nakumatt’s creditors have rejected an offer by Tuskys to guarantee the troubled retailer’s debts, leaving the supermarket chain’s fate in the hands of the court.
Nakumatt had filed a proposal in court for Tuskys to guarantee debts with its landlords for a period of three months, but the creditors said the guarantee was not binding since it provides for arbitration in the event Tuskys failed to meet its obligations, exposing them to further dispute and risk.
