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.
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.