Kenyan supermarket collapses owing $177m to suppliers

Creditors backed the liquidation of Kenyan supermarket chain Nakumatt at a meeting in Nairobi after it was unable to pay back its debts.

The retailer owed more than 30bn shillings ($296m), including KSh18bn ($177m) to its suppliers, KSh4bn ($39.4m) to commercial paper holders and the rest to banks.

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Kenyan supermarket collapses owing $177m to suppliers

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