Nakumatt to sack 1,200 employees in new revival bid

Proposal by struggling Nakumatt’s administrator, if adopted, will also see creditors wait until 2026 to get their dues. [Edward Kiplimo, Standard]

It will take more than a miracle for Nakumatt to recover from its financial woes, with the struggling retailer now pushing the repayment of debts to as late as 2026.

Nakumatt is also expected to shed about half of its workforce in its latest turnaround attempt, according to proposals contained in a report by its new administrator.