, NAIROBI, Kenya, Jan 31 – Nakumatt Holdings has acknowledged financial difficulties has seen the supermarket change its operations and cut down on stocks.
This is after customers complained of at the absence of items in the country’s biggest retail chain shelves.
Newly appointed Chief Marketing Officer Andrew Dixon, however, says that the company is working with suppliers and staff to regularise stocks.
“We recognise the prevailing issue in some of our outlets concerning operations and stocking,” says Dixon.
“I would like to pass my regret at any inconvenience that our situation might have caused to any of our customers and I would like to reassure you that we are on course to regularise our operations and stocks in coming days.”
Late last year, Managing Director Atul Shah said that indeed the chain was facing challenges which were affecting its cash flow.
The retailer credited its failing operations to a depressed economy, higher operating costs that include acquiring enhanced risk management to caution against prevailing security threats.
In October 2016, Shah said the company was seeking financiers who would inject capital hence reduce the overall debt.
With 61 stores across East Africa, the company has in the recent past stated it is willing to sell a 25 percent stake or more to an investor.