Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Nakumatt accuses the Junction Mall of using deceit and tricks to close branch

NAIROBI, Kenya, Oct 2 – Nakumatt has threatened to take legal action against The Junction Mall for closing the retailer’s branch despite an earlier agreement that the two entities had reached to keep the store open.

In a statement, Nakumatt has accused the directors and managers of The Junction Mall of using deceit and trickery to illegally close the outlet by posting a misleading public notice alluding that Nakumatt has surrendered its anchor tenancy.

“The Junction Mall’s underhand actions on Saturday night, including locking the branch and publicizing a fraudulent and misleading notice claiming that the premises have been surrendered by Nakumatt, are clearly contrary to the terms of the Agreement, illegal and of utmost bad faith,” reads the statement.

Nakumatt further argues that it had assured it will adequately restock the store following a Sh20 million rent arrear demand by the management of the mall which, according to Nakumatt, was agreed by both parties.

The supermarket says it had promised to pump Sh64 million worth of stock in the branch and had been guaranteed continued operations based on the restocking plan.

“As highlighted in the public domain, we have embarked on a structured process of turning around our business and this high-handed action of the directors and managers of the Junction Mall cannot be allowed to stall this process.”

 

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...