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Nakumatt Supermarket shuts down Junction branch

Struggling Nakumatt Supermarket has closed its Junction branch, even as the retailer banks on cash injection from a new strategic investor to address its frequent stock outs.

In a public notice released on Sunday, the cash-strapped retailer said it had relinquished its rights over the premises pursuant to a surrender note dated September 15, 2017.

“The premise will be closed to the public from October 1, 2017 and no trading will be permitted at the premises,” read the notice.

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Nakumatt Nextgen shut down nine months after opening

The family-owned business is fighting to cut back on massive debts owed to suppliers, estimated at Sh15 billion as at February 2015, a situation that has been piling pressure on its operations.

Nakumatt Junction’s closure comes barely a month after the NextGen branch along Mombasa Road closed its doors to customers just nine months after it was opened.