Nakumatt was East Africa's largest retailer before it experienced financial stuggles in 2017 © AFP/Getty Images
Nakumatt was East Africa's largest retailer before it experienced financial stuggles in 2017 © AFP/Getty Images

Kenyan supermarket collapses owing $177m to suppliers

9 January 2020

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.

 Want to stay up to date with the news? Sign up to our daily bulletin.

To read the rest of this article you need to sign in:
Don't have an account? Register here

JOIN CIPS

Not a CIPS member? Why not join CIPS to access a full range of benefits, including:

  • Access all areas of the CIPS Knowledge on-line library including tools and templates and Supply Management stories.
  • Enhance your network and get connected to a global community of 120,000 in 150 countries.
  • Stay in touch and up to date through member only events and branch meetings.
  • Annual subscription to Supply Management magazine.
  • 10 per cent discount on all training courses, workshops, seminars and conferences.
  • Up to 15 per cent discount on books from the CIPS book store, including course books and a range of further reading text books.

And much more. Click here to join >

LATEST
JOBS
Portsmouth / Bristol - Nationwide Travel
£40,000 - £45,000 per year
Babcock
Gateshead, Tyne and Wear
£30,755 - £59,459
Homes England
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE