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Nakumatt: Another ailing Kenyan company
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rurinjaa
#331 Posted : Monday, July 10, 2017 5:43:03 AM
Rank: New-farer

Joined: 7/10/2013
Posts: 29
Been following the thread and news on this Nakumatt saga. Wondered if ppl remember that when Uchumi started having trouble at the beginning of Kibaki years and asked to be bailed out that Nakumatt wrote to Mukhisa Kituyi and David Nalo who were heading the then Trade ministry wondering why the co should be bailed and sinically wondering why they should not get a equal amount of money from taxpayers. They wanted their competition out of the way and indeed their growth came from the misfortune of Uchumi. Historically competitors have come to the rescue of each other in times of trouble. Think of Garett George from BBK to KCB at home and Microsoft and Apple in another market. Competition sometimes make companies stronger. The story of Uchumi and Nakumatt shall or can make a good desertation/research/ topics for MBA
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rurinjaa
#332 Posted : Monday, July 10, 2017 5:48:57 AM
Rank: New-farer

Joined: 7/10/2013
Posts: 29
Both have imploded due to mgmt mistakes whether family and or inept managers(don't tell me about the dukawallah Shah) he too created the mess at Uchumi. You may have your view but ask the insiders- no succession plan. Hope Naivas and Tuskys don't follow the same path but as things stand . . . I fear!
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Ericsson
#333 Posted : Monday, July 10, 2017 11:38:30 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,811
Location: NAIROBI
http://www.theeastafrica...6048-4unfyez/index.html

Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Bigchick
#334 Posted : Monday, July 10, 2017 11:54:46 AM
Rank: Elder

Joined: 2/8/2013
Posts: 4,068
Location: At Large.
Ericsson wrote:
http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html

Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise



Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachment of some sort.
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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Pesa Nane
#335 Posted : Monday, July 10, 2017 2:36:36 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Bigchick wrote:
Ericsson wrote:
http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html

Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise



Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachmentdark financial past of some sort.

Pesa Nane plans to be shilingi when he grows up.
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maka
#336 Posted : Monday, July 10, 2017 2:40:35 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Pesa Nane wrote:
Bigchick wrote:
Ericsson wrote:
http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html

Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise



Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachmentdark financial past of some sort.




In the next 2-3 months they will close completely. Ran short of some supplies for some event on Sato rushed to Mega...No pick and peel or Delmonte....no methylated spirit...No serviettes.The only thing I got is cotton wool.
possunt quia posse videntur
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  | | Edit by user: Monday, July 10, 2017 2:41 PM | Reason: Not specified
Angelica _ann
#337 Posted : Monday, July 10, 2017 2:59:54 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
maka wrote:
Pesa Nane wrote:
Bigchick wrote:
Ericsson wrote:
http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html

Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise



Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachmentdark financial past of some sort.




In the next 2-3 months they will close completely. Ran short of some supplies for some event on Sato rushed to Mega...No pick and peel or Delmonte....no methylated spirit...No serviettes.The only thing I got is cotton wool.


smile smile smile Event d'oh! d'oh! d'oh!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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maka
#338 Posted : Monday, July 10, 2017 3:06:16 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Angelica _ann wrote:
maka wrote:
Pesa Nane wrote:
Bigchick wrote:
Ericsson wrote:
http://www.theeastafrican.co.ke/news/State-rejection-sets-Nakumatt-on-a-lonely-slide/2558-4006048-4unfyez/index.html

Regional retailer Nakumatt is running out of options for survival after it emerged that its owners have no immediate plan to inject new capital into the business as the Kenya government has ruled out bailing out a private enterprise



Am told they are the ones who having been refusing to let go. Otherwise suitors have been coming.Some sentimental attachmentdark financial past of some sort.




In the next 2-3 months they will close completely. Ran short of some supplies for some event on Sato rushed to Mega...No pick and peel or Delmonte....no methylated spirit...No serviettes.The only thing I got is cotton wool.


smile smile smile Event d'oh! d'oh! d'oh!


Chafing dishes...smile
possunt quia posse videntur
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hardwood
#339 Posted : Tuesday, July 11, 2017 9:35:25 AM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Quote:
A senior Government official has laid bare the extent of Nakumatt Supermarket’s financial woes, revealing the retailer is reeling under a Sh30 billion debt.

This makes the recovery of the regional retail chain, whose debt position in the public domain has been put at Sh18 billion, more tasking.

According to the source, Nakumatt owes suppliers Sh15 billion. Ten commercial banks are also on its neck, seeking to recover Sh8 billion and it has also soaked in an additional debt to the tune of Sh7 billion in commercial paper.


Read more at: https://www.standardmedi...ndisclosed-nakumatt-debt
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deadpoet
#340 Posted : Tuesday, July 11, 2017 10:09:37 AM
Rank: Member

Joined: 9/27/2006
Posts: 506
Now it makes sense why there were no eggs at Westgate and Junction on two separate occassions...
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