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Nakumatt offers suppliers debt swap deal

Tusker Mattresses Chairman Stephen Mukuha (centre) flanked by PKF Partner and Nakumatt Adminstrator Peter Kahi (left) and PKF Managing Director Atul Shah. [Photo/Standard]

Suppliers who are owed billions of shillings by Nakumatt could soon own a piece of the ailing retailer if they agree to a debt-for-equity swap deal.

This was one of the proposals fronted by the retail chain’s newly appointed independent administrator, Peter Kahi, when he met the suppliers in Nairobi yesterday.

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