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.
