The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
Goods scattered outside Nakumatt, Nanyuki branch after landlord forcefully evicted the tenant from premises over rent arrears (PHOTO: FILE)
NAIROBI, KENYA: Ailing retailer Nakumatt is now hanging on a legal loophole to keep off creditors and landlords eager to collect their dues.
The supermarket chain, which is responding to an application filed by creditors, has now sought refuge in a moratorium which the retailers’ lawyers say is supported by Section 561(1) of the Insolvency Act of the Laws of Kenya.
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