@BdAfrica

Nakumatt in fresh row with several landlords - 8 Mar 2018 10:19

Galgallo Fayo

At least four landlords have taken on Nakumatt Supermarkets with multiple suits seeking to evict the retailer, even before expiry of the 60 days grace period offered by the court to afford an opportunity for reviving the fallen giant. The landlords are either seeking to evict Nakumatt or deny them re-entry into their respective prime malls. Yesterday the retailer was forcibly evicted from the prime Nyali branch in Mombasa. Sabaki River Holdings Limited, the owner of Malindi mall, South Coast Holdings Limited which owns Diani Mall, Parkside owners of Galleria mall and GC Retail the owners of Garden mall are in court fighting to evict or stop Nakumatt’s re-entry. “The applicant requires all its branches to be fully functional in order to restructure itself for the payments to its creditors. I am further legally bound to report a repayment plan to the creditors under the court’s supervision within 60 days…which ...
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