Nakumatt shuts down Village Market branch over rent accumulation

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BY KORIR JUMA,NAIROBI,9TH APRIL 2018-Nakumatt Holdings has shut down its Village Market  branch in Nairobi over rent arrears.

The branch was closed barely a day after 14 landlords said they are no longer interested in working with the retailer as a tenant.

The landlords from Galleria, Nyali, Likoni, Karen Crossroads, Nakuru, Eldoret Household, Cinemax, Nanyuki, Highridge, City Hall, Diani, Malindi, Meru and Highport (Warehouses) cut their links with the retailer on Sunday.

In a press statement , the landlords stated that they do not do not support the proposals for recovery advanced by Nakumatt administrator Peter Kahi.

The 14 landlords also attributed their decision to the decision of Tuskys pulling out of the proposed deal saying there is no viable alternative offered.

The closure now means that Nakumatt currently has only eight outlets that are operational.

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