Former Kilome MP Harun Mwau’s exit from Nakumatt was the trigger for the retailer’s slide to bankruptcy and near-liquidation, according to newly filed court documents.
Edward Waithaka, a director of Nanyuki Mall Limited, says in court filings that Nakumatt chief executive Atul Shah may have used its working capital to buy the former MP’s stake, setting in motion a liquidity crisis that quickly turned into an insolvency.
