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.
Lawyer Kamau Karori for Nakumatt holding argues before Justice Joseph Onguto during the hearing of an application filed by Nakumatt holdings seeking orders to allow the management to have administration order to enable it perform its functions in the interests of creditors. [PHOTO/GEORGE NJUNGE]
Troubled retailer Nakumatt will have to wait until next week to know whether it will be allowed to appoint an administrator to keep the business running or await liquidation.
The High Court in Nairobi yesterday listened to the divided opinion of creditors whose money is tied up in the cash-strapped retailer that has up to now closed about 20 branches.
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