Nakumatt TRM In Trouble With Landlord Over Ksh51 Million Rent Arrears

(Last Updated On: July 4, 2017)

Just last weekend, it was announced that 3 Nakumatt branches in Uganda were closed down by their respective landlords over rent issues. It seems the same issues have spilled over to their Kenyan branches.

Nakumatt at Thika Road Mall allegedly owes the mall landlord Ksh51 million in rent arrears. Moran Auctioneers have been hired to seize a number of Nakumatt’s assets to be used to recover the amount. Some of the items taken were trolleys, refrigerators, motor vehicles etc.

Nakumatt has proceeded to court to try and stop the auctioneers from auctioning their assets and evicting them from the premises. They have asked the court to grant them till July 19 so as to negotiate a reliable settlement plan.