Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

New Nakumatt manager to meet suppliers next week

Nakumatt Managing Director Atul Shah officially handed the management of the supermarket to Kahi following the Court’s decision which essentially saved the retailer from bankruptcy./FILE

NAIROBI, Kenya, Jan 25 – The new administrator of Nakumatt Holdings will meet with suppliers to chart a way forward for the recovery of the company.

PKF consultant Peter Kahi who was handed the management of the supermarket following a High Court decision said the meeting will take place on January 31.

At the same time, Kahi said that the company’s primary goal was to pay creditors, suppliers and landlords, who are collectively owed nearly Sh30 billion by the retailer.

“In my opinion, this company can be rescued. In the rescue plan, my immediate concern is to talk to all stakeholders, in particular, the suppliers, who are the key people in the recovery of this company,” Kahi said.

Kahi also appealed to suppliers to continue supplying them with products and said that they shall be paid as previously done.

“We have a restocking program in place and we have already restocked eight branches. I humbly urge landlords in these stores to open so that our customers and stakeholders can come back,” he added.

Nakumatt Managing Director Atul Shah officially handed the management of the supermarket to Kahi following the Court’s decision which essentially saved the retailer from bankruptcy.

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...