Troubled Nakumatt recovery plan hits rough patch as woes deepen

The retailer has been chased out of Kisii, Busia and Eldoret premises. Junction Mall ejected the retailer after a court battle over the defaulted rent of between Sh50 million and Sh75 million.

To give Nakumatt benefit of the doubt, there are Kenyan firms that have risen from the ashes of insolvency, defying a violent creditors’ turmoil.

Retail store Uchumi Supermarkets and airline Kenya Airways (KQ) easily come to mind. Once on the cusp of bankruptcy, the two firms miraculously roared back to life when the odds were stacked against them.