Curtain falls on prestigious Nakumatt retailer

Prestigious retailer, Nakumatt Supermarkets has stopped its operations after creditors approved the sale of assets to clear debts amounting 38 billion shillings.

The move follows a meeting between Administrator Peter Kahi and the creditors Tuesday who approved the liquidation process in a unanimous decision.

The court is now expected to issue a directive on how the liquidation process will be conducted.

The High Court is expected to make a determination on 17th of this month. This will give the directive on who will conduct the liquidation process and how it will be conducted.

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