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.

MARGARET NJUGUNAH :I'm a business reporter based in Nairobi, Kenya. I'm passionate about feature stories on personal finance, development and technology.