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Nakumatt: Another ailing Kenyan company
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KulaRaha
#1 Posted : Friday, October 28, 2016 7:58:48 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
So the story started on Monday on whatsapp, rumours that a bunch of suppliers had gotten together and decided to put Nakumatt into receivership.

Again, rumours of a follow up meeting yesterday, and suddenly Nakumatt issues a statement.

What's your take?
Business opportunities are like buses,there's always another one coming
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littledove
#2 Posted : Friday, October 28, 2016 8:20:17 AM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
KulaRaha wrote:
So the story started on Monday on whatsapp, rumours that a bunch of suppliers had gotten together and decided to put Nakumatt into receivership.

Again, rumours of a follow up meeting yesterday, and suddenly Nakumatt issues a statement.

What's your take?


signs are very clear the economy is not doing well.
The other day i just noticed something else, many big billboards without adverts for months now, three years back we were looking for a big billboard to put a company advert,we had to wait for seven months and it was not as strategic as we wanted.Companies are retrenching on daily basis and downsizing instead of expanding.
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Ericsson
#3 Posted : Friday, October 28, 2016 8:39:47 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,811
Location: NAIROBI
Choices have consequences.
Jubilee manifesto ndio hiyo
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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maka
#4 Posted : Friday, October 28, 2016 8:43:37 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Ericsson wrote:
Choices have consequences.
Jubilee manifesto ndio hiyo


Word...
possunt quia posse videntur
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hardwood
#5 Posted : Friday, October 28, 2016 8:57:04 AM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Nakumatt collapsing?

Sasa where will the middo class shop?

http://www.the-star.co.k...to-stay-afloat_c1445570

Quote:
In a statement on Thursday, Nakumatt Holdings managing director Atul Shah admitted that the chain was facing financial challenges that had affected its cash flow.

“These challenges range from a depressed economy, higher operating costs and extraneous factors including enhanced risk management due to prevailing security threats,” he said.

Shah further revealed that the retail chain is currently engaging a number of local and international partners for possible capital injection to subvert further turbulence.

It is estimated that Nakumatt Holdings requires an estimated Sh5 billion shillings to regain its market stability.
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  | | Edit by moderator: Friday, October 28, 2016 11:29 AM | Reason: topics merged
hardwood
#6 Posted : Friday, October 28, 2016 9:06:27 AM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Nakumatt has admitted challenges in paying suppliers. Suppliers say they are now paid after 6-9 months instead of the usual 3 months.

http://www.businessdaily...32754-juj5h4z/index.html
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kaka2za
#7 Posted : Friday, October 28, 2016 9:09:02 AM
Rank: Elder

Joined: 10/3/2008
Posts: 4,058
Location: Gwitu
All major supermarkets are in red
Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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watesh
#8 Posted : Friday, October 28, 2016 9:15:26 AM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
KulaRaha wrote:
So the story started on Monday on whatsapp, rumours that a bunch of suppliers had gotten together and decided to put Nakumatt into receivership.

Again, rumours of a follow up meeting yesterday, and suddenly Nakumatt issues a statement.

What's your take?

Waaah! Is it because of those blue label products they keep putting up EVERYWHERE? On Twitter I saw some supplier complaining of losing shelf space because of the blue labels.
Then I also saw a rumor that Unilever, Cocacola & Pepsi have suspended supplies into Nakumatt.
If Nakumatt is getting into trouble, what about these other guys like Uchumi and Tuskys which constantly have issues?
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maka
#9 Posted : Friday, October 28, 2016 9:28:02 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
watesh wrote:
KulaRaha wrote:
So the story started on Monday on whatsapp, rumours that a bunch of suppliers had gotten together and decided to put Nakumatt into receivership.

Again, rumours of a follow up meeting yesterday, and suddenly Nakumatt issues a statement.

What's your take?

Waaah! Is it because of those blue label products they keep putting up EVERYWHERE? On Twitter I saw some supplier complaining of losing shelf space because of the blue labels.
Then I also saw a rumor that Unilever, Cocacola & Pepsi have suspended supplies into Nakumatt.
If Nakumatt is getting into trouble, what about these other guys like Uchumi and Tuskys which constantly have issues?


Expanded too fast?To your list add Del monte
possunt quia posse videntur
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KulaRaha
#10 Posted : Friday, October 28, 2016 9:32:01 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Is it a case of expansion really? Or more a case of diversion of cash offshore?
Business opportunities are like buses,there's always another one coming
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