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Nakumatt: Another ailing Kenyan company
Rank: Elder Joined: 6/23/2009 Posts: 14,258 Location: nairobi
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Angelica _ann wrote:Ericsson wrote:KulaRaha wrote:obiero wrote:KulaRaha wrote:Most of their landlords haven't been paid rent for 6 months...word is they are getting together to take action. This government has presided over the largest economic sabotage in African history.. Over 15,000 jobs lost with countless industries crippled. It's sad really Nakumatt isn't the government's fault...its the shareholders' at play. Misplaced. Achana na Obiero Pure mismanagement & capital flight So what do we say about Uchumi & Tuskys too.. There is a problem in retail caused by the state of flux in our economy.. Most people now lack buying power. The layoffs in almost all sectors of the economy coupled with a ballooning inflation are cutting supermarkets right at the knees. Nakumatt was a strong brand with quality management. I blame the macro environment, not its shareholders
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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Some jobs were created hapo Thika to assemble the VW polo..I wonder how many have been sold thus far? obiero wrote:KulaRaha wrote:Most of their landlords haven't been paid rent for 6 months...word is they are getting together to take action. This government has presided over the largest economic sabotage in African history.. Over 15,000 jobs lost with countless industries crippled. It's sad really
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Rank: Elder Joined: 6/23/2009 Posts: 14,258 Location: nairobi
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Chaka wrote:Some jobs were created hapo Thika to assemble the VW polo..I wonder how many have been sold thus far? obiero wrote:KulaRaha wrote:Most of their landlords haven't been paid rent for 6 months...word is they are getting together to take action. This government has presided over the largest economic sabotage in African history.. Over 15,000 jobs lost with countless industries crippled. It's sad really I have only seen one of those VWs in these streets
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Rank: Elder Joined: 6/23/2009 Posts: 14,258 Location: nairobi
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Chaka wrote:Some jobs were created hapo Thika to assemble the VW polo..I wonder how many have been sold thus far? obiero wrote:KulaRaha wrote:Most of their landlords haven't been paid rent for 6 months...word is they are getting together to take action. This government has presided over the largest economic sabotage in African history.. Over 15,000 jobs lost with countless industries crippled. It's sad really I have only seen one of those VWs in these streets
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Rank: Member Joined: 6/15/2013 Posts: 301
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obiero wrote:Angelica _ann wrote:Ericsson wrote:KulaRaha wrote:obiero wrote:KulaRaha wrote:Most of their landlords haven't been paid rent for 6 months...word is they are getting together to take action. This government has presided over the largest economic sabotage in African history.. Over 15,000 jobs lost with countless industries crippled. It's sad really Nakumatt isn't the government's fault...its the shareholders' at play. Misplaced. Achana na Obiero Pure mismanagement & capital flight So what do we say about Uchumi & Tuskys too.. There is a problem in retail caused by the state of flux in our economy.. Most people now lack buying power. The layoffs in almost all sectors of the economy coupled with a ballooning inflation are cutting supermarkets right at the knees. Nakumatt was a strong brand with quality management. I blame the macro environment, not its shareholders Uchumi....really...How is gross mismanagement and theft by top management the governments fault. Nakumatt was also a mismanaged supermarket and the chickens have come home to roost. Even in their ''hey days'' it would take them more than one year to pay ''non-essential'' suppliers. Plus they had unwarranted rapid expansion in practically every mall being built. Naivas, Quickmart, Tuskys are currently on expansion mode given the right location. So how has the government interfered with their expansion??
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Rank: Elder Joined: 8/4/2008 Posts: 2,849 Location: Rupi
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The story of nakumatt is very sad. In January I went to mega to buy spinach and kales and there was none. That didn't get me thinking. I would never have imagined that this could happen to Nakumatt. They should have been brave enough to close "non performing" branches. Like the one near taj mall. Has there been too much theft? The auditor who was shot dead comes to mind.May he rest in everlasting peace. Lord, thank you!
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Rank: Elder Joined: 6/23/2009 Posts: 14,258 Location: nairobi
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mulla wrote:obiero wrote:Angelica _ann wrote:Ericsson wrote:KulaRaha wrote:obiero wrote:KulaRaha wrote:Most of their landlords haven't been paid rent for 6 months...word is they are getting together to take action. This government has presided over the largest economic sabotage in African history.. Over 15,000 jobs lost with countless industries crippled. It's sad really Nakumatt isn't the government's fault...its the shareholders' at play. Misplaced. Achana na Obiero Pure mismanagement & capital flight So what do we say about Uchumi & Tuskys too.. There is a problem in retail caused by the state of flux in our economy.. Most people now lack buying power. The layoffs in almost all sectors of the economy coupled with a ballooning inflation are cutting supermarkets right at the knees. Nakumatt was a strong brand with quality management. I blame the macro environment, not its shareholders Uchumi....really...How is gross mismanagement and theft by top management the governments fault. Nakumatt was also a mismanaged supermarket and the chickens have come home to roost. Even in their ''hey days'' it would take them more than one year to pay ''non-essential'' suppliers. Plus they had unwarranted rapid expansion in practically every mall being built. Naivas, Quickmart, Tuskys are currently on expansion mode given the right location. So how has the government interfered with their expansion?? The fact that Ciano and Co walk the streets as if nothing happened, while an auditor rests six feet under, says it all. We can all bury our heads in the sand and sing kumbayah but the fact remains that government in this country and the continent at large has by and large failed the populace. The other supermarkets are merely enjoying the space created by absence of the former retailers.. It's sad
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Rank: Elder Joined: 12/4/2009 Posts: 10,811 Location: NAIROBI
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obiero wrote:mulla wrote:obiero wrote:Angelica _ann wrote:Ericsson wrote:KulaRaha wrote:obiero wrote:KulaRaha wrote:Most of their landlords haven't been paid rent for 6 months...word is they are getting together to take action. This government has presided over the largest economic sabotage in African history.. Over 15,000 jobs lost with countless industries crippled. It's sad really Nakumatt isn't the government's fault...its the shareholders' at play. Misplaced. Achana na Obiero Pure mismanagement & capital flight So what do we say about Uchumi & Tuskys too.. There is a problem in retail caused by the state of flux in our economy.. Most people now lack buying power. The layoffs in almost all sectors of the economy coupled with a ballooning inflation are cutting supermarkets right at the knees. Nakumatt was a strong brand with quality management. I blame the macro environment, not its shareholders Uchumi....really...How is gross mismanagement and theft by top management the governments fault. Nakumatt was also a mismanaged supermarket and the chickens have come home to roost. Even in their ''hey days'' it would take them more than one year to pay ''non-essential'' suppliers. Plus they had unwarranted rapid expansion in practically every mall being built. Naivas, Quickmart, Tuskys are currently on expansion mode given the right location. So how has the government interfered with their expansion?? The fact that Ciano and Co walk the streets as if nothing happened, while an auditor rests six feet under, says it all. We can all bury our heads in the sand and sing kumbayah but the fact remains that government in this country and the continent at large has by and large failed the populace. The other supermarkets are merely enjoying the space created by absence of the former retailers.. It's sad Very True Sir Obiero Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 5/5/2011 Posts: 1,059
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The former MD of Nakumatt (ramma--something) recently tweeted about the mismanagement and unplanned withdrawal of cash by owners, family fights, and deviation from core business etc as the main cause of Nakumatt fall, not rapid expansion as many would think, add to that the shady connection to tilley or is it tilly and imperial bank.things got even thicker when Mwau left. To Each His Own
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Rank: Veteran Joined: 8/25/2012 Posts: 1,826
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I think they were bewitched, uchawi is real.
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Nakumatt: Another ailing Kenyan company
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