Nakumatt closes high profile outlets in Kampala
July 3—Financially strapped Nakumatt, the Kenyan-based mass retailer, late last week saw the closure of three of their major supermarkets in Kampala.
Knight Frank, appointed managers at Acacia Mall, Village Mall and Victoria Mall issued a statement to confirm what many have been expecting in light of the empty shelves and piles of unpaid bills including rent.
‘Knight Frank Uganda regrets to inform our loyal clientele that on 28th June 2017, Nakumatt stores at Acacia Mall – Kololo, Village Mall – Bugolobi and Victoria Mall – Entebbe were closed. The Supermarket space at these Malls will go under redevelopment to add additional value to our shoppers and their shopping experience,’ Marc du Toit, the Knight Frank (Uganda) Retail Manager said in the statement.
As a private company, the true extent of Nakumatt Holdings finances, are not fully known, except management has been hinting of talks with a new shareholder to bring in urgent cash.