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177:, bringing the number of stores in Uganda to three. The initial investment in the store in Kololo was approximately US$ 3 million. The two Payless Supermarket stores cost an estimated US$ 650,000. Nakumatt plans to expand the new stores at a later date. In February 2016, the retail chain announced plans to open five new stores outside Kenya during the first half of the year.
146:. It employed over 5,500, and had gross annual revenue in excess of US$ 450 million. At that time, it had plans to enter other African countries and to increase the number of stores in the countries where it already had a presence. In October 2017 the company ran out of funds and did not pay rents or wages. 60 stores were closed.
287:
Nakumatt began experiencing serious cash-flow issues in 2016. It was unable to meet its financial obligations to landlords, suppliers, and staff. An administrator was appointed to help it re-gain financial footing. However, in
December 2019 the retail chain sold the last six branches to
221:
family. In July 2013, Kenyan print media indicated that the chain planned to sell a 25% stake to yet an unidentified investor and use the funds for regional expansion. After that sale, the Shah family would still remain the largest shareholders in the company.
278:
The website of
Nakumatt Holdings Limited was hacked by Iranian hackers called Sole Sad & Invisible. The website as of 31 May 2014 shows a message that the website is under construction. There is a new website www.nakumatt.net
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169:, the capital city. In November 2010, Nakumatt expanded its footprint in Kampala by acquiring Payless Supermarket, a Ugandan supermarket chain with two stores in the Kampala suburbs of
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29:
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in a deal that will see the
Nakumatt brand completely disappear by the end of 2019. Creditors formally voted to liquidate the company on 7 January 2020
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Turnover in 2006 was over US$ 200 million, up 120% on the previous year. In 2013, turnover (annual gross revenue) was estimated at US$ 650 million.
382:
632:
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The chain has a poor safety record and has faced strong criticism mainly regarding shoppers' and employees' safety. Main case in point is the
875:
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197:. Prestige, Lavington, Embakasi, Mega. The Mega branch on Uhuru Highway now takes a smaller space adjacent to the proposed Carrefour Mega.
234:
in which over 29 people lost their lives. However, the management has taken steps to ensure that such accidents do not happen again.
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On 23 August 2008, Nakumatt opened its first store outside Kenya in the Union Trade Center, in
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8:
349:
307:
127:
841:
Nakumatt In Search of Equity
Partner, Plans Expansion Into Western & Southern Africa
161:, Rwanda. In June 2009, the first Nakumatt store in Uganda opened on Yusuf Lule Road on
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area, which include brand name stores, banks, theaters and international eateries.
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Nakumatt has played a significant role in the urban development of
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As of
December 2019 the supermarket chain had five stores in
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768:"Retail giant folds as creditors make final close of Nakumatt"
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As of March 2021, the chain had only one store in operation.
548:"Nakumatt to open five more outlets in neighbour countries"
491:"Nakumatt Opens 24 Hour Outlet in Uganda's Bugolobi Suburb"
266:, through the construction of upscale malls throughout the
94:
797:"Nakumatt collapses after creditors vote for liquidation"
126:
As of
December 2015, Nakumatt had 65 stores in the
657:
James
Kariuki, and Charles Mwaniki (8 November 2016).
846:
Nakumatt With Eight Stores In Uganda By
December 2013
836:
Nakumatt Sets Stage To Open 50th Store In August 2014
333:
517:"Nakumatt Takes Over Payless Supermarket Operations"
282:
459:Frank Kagabo, and Kihesi Rwaguma (24 August 2008).
851:Nakumatt’s profit drops to Sh305m after high costs
576:"Nakumatt to open smaller outlet on Uhuru Highway"
383:"Supermarkets And Their Peculiar Link With Nakuru"
857:
435:"Nakumatt: From Mattress Shop to African Chain"
189:, including at the following locations: one in
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739:"Death of Nakumatt After Revival Efforts Fail"
685:
659:"Mwau exits Nakumatt with sale of 7.7pc stake"
656:
488:
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250:on 28 January 2009, killing about 29 people.
688:"Nakumatt Starts Talks On Sale of 25% Stake"
458:
736:
633:"Nakumatt Valued At KSh34 Billion, Says MD"
273:
27:
514:
759:
603:"Kenya: Nakumatt Turnover Grows by 150%"
489:Gakure-Mwangi, Peter (9 November 2010).
152:
730:
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217:, privately held company, owned by the
858:
716:"Website of Nakumatt Holdings Limited"
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545:
432:
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237:
876:Kenyan companies established in 1987
871:Retail companies established in 1987
631:Mwaniki, Charles (31 October 2013).
515:Ssempijja, David (4 November 2010).
114:. "Nakumatt" is an abbreviation for
546:Mutegi, Mugambi (2 February 2016).
539:
410:. Nakumatt Holdings. Archived from
13:
766:Bonface Otieno (4 December 2020).
461:"Rwanda: Nakumatt Opens in Rwanda"
14:
887:
819:
795:Bonface Otieno (7 January 2020).
381:Morris Kiruga (20 October 2013).
283:Closure and going out of business
253:
737:Paul Wafula (17 December 2019).
433:Miriri, Duncan (19 April 2012).
355:
343:
708:
686:David Herbling (24 July 2013).
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650:
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601:Ondari, Justus (30 May 2007).
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1:
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262:'s largest and capital city,
408:"Nakumatt Business Overview"
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16:Supermarket chain in Kenya
831:Nakumatt Official Website
495:East Africa Business Week
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22:Nakumatt Holdings Limited
274:Sole Sad & Invisible
465:The New Times (Rwanda)
213:Nakumatt was a wholly
866:Supermarkets of Kenya
773:Business Daily Africa
693:Business Daily Africa
664:Business Daily Africa
637:Business Daily Africa
553:Business Daily Africa
153:Regional subsidiaries
242:A Nakumatt store in
718:. Nakumatt Holdings
607:Daily Nation Online
387:Daily Nation Mobile
290:Naivas Supermarkets
193:and four stores in
128:African Great Lakes
23:
826:2009 Nakumatt Fire
527:on 8 December 2010
328:2009 Nakumatt Fire
238:2009 Nakumatt fire
232:2009 Nakumatt fire
21:
318:2011 Nairobi Fire
112:supermarket chain
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116:Nakuru Mattress
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806:. Retrieved
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744:Daily Nation
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350:Supermarkets
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85:Supermarkets
72:Headquarters
50:Retail trade
36:Company type
18:
751:17 December
385:. Nairobi:
163:Kololo Hill
860:Categories
671:8 November
586:3 December
560:2 February
521:New Vision
369:References
808:8 January
780:4 January
776:. Nairobi
747:. Nairobi
696:. Nairobi
667:. Nairobi
556:. Nairobi
362:Companies
303:Molo Fire
246:suffered
219:Atul Shah
209:Ownership
171:Bugoloobi
97:.nakumatt
296:See also
201:Finances
181:Branches
144:Tanzania
122:Overview
108:Nakumatt
82:Products
46:Industry
439:Reuters
336:Portals
268:Nairobi
264:Nairobi
244:Nairobi
195:Nairobi
167:Kampala
90:Website
64:Defunct
56:Founded
40:Private
722:31 May
700:31 May
642:31 May
616:31 May
531:31 May
500:31 May
474:31 May
444:31 May
418:31 May
392:31 May
313:Tuskys
308:Uchumi
226:Safety
215:Kenyan
191:Nakuru
175:Bukoto
159:Kigali
140:Rwanda
136:Uganda
582:. NMG
260:Kenya
187:Kenya
132:Kenya
810:2020
782:2020
753:2019
724:2014
702:2014
673:2016
644:2014
618:2014
609:via
588:2019
562:2016
533:2014
502:2014
476:2014
467:via
446:2014
420:2014
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173:and
142:and
99:.net
67:2019
59:1987
95:www
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
