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Nakumatt: Another ailing Kenyan company
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KulaRaha
#381 Posted : Tuesday, August 29, 2017 9:19:55 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
obiero wrote:
winston wrote:
I am surprised the asian community has not cobbled something to save this gaint.

Read about the caste system for Kenyan Indians


Rumour is the Associated Steel Group want to buy but Shah wont sell as it requires due diligence and that may reveal what he stole.
Business opportunities are like buses,there's always another one coming
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winston
#382 Posted : Tuesday, August 29, 2017 10:14:42 AM
Rank: Member

Joined: 4/14/2010
Posts: 806
Location: Nairobi
obiero wrote:
winston wrote:
I am surprised the asian community has not cobbled something to save this gaint.

Read about the caste system for Kenyan Indians


@obiero...thanks. Hadnt seen that angle
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innairobi
#383 Posted : Tuesday, August 29, 2017 11:32:19 AM
Rank: Member

Joined: 9/2/2010
Posts: 845
Doesn't it all come down to viability? There are limits to how much any community in the world can do for its members. I'm sure many of Nakumatt's creditors are members of the Asian community. Your own brother would be hesitant to sink their savings in your collapsing business.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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The Great
#384 Posted : Wednesday, August 30, 2017 8:50:43 AM
Rank: Member

Joined: 9/9/2015
Posts: 233
Indians are financially smart,more than they are communal or collaborative.
"Buy when there's blood in the streets, even if the blood is your own."
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kayhara
#385 Posted : Wednesday, August 30, 2017 9:44:28 AM
Rank: Veteran

Joined: 5/5/2011
Posts: 1,059
Nakumatt owners will actually get very rich if the chain goes down.
To Each His Own
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hardwood
#386 Posted : Sunday, September 03, 2017 2:46:34 PM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
The end is nigh...
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Mike Ock
#387 Posted : Sunday, September 03, 2017 7:37:43 PM
Rank: Member

Joined: 1/22/2015
Posts: 682
innairobi wrote:
Doesn't it all come down to viability? There are limits to how much any community in the world can do for its members. I'm sure many of Nakumatt's creditors are members of the Asian community. Your own brother would be hesitant to sink their savings in your collapsing business.


Yes, that's the bottom line, and also, having dealt with family business, I have a suspicion that the owners want to dictate some sweet terms for themselves out of pride. Lakini mahali imefika, they should be happy if someone even just pays off their debt in exchange for the whole company. I'm sure they've made a few billion for themselves over the years, they should just retire into the sunset now and call it a day.
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Ericsson
#388 Posted : Thursday, September 07, 2017 7:08:23 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Ericsson wrote:
Angelica _ann wrote:
Ericsson wrote:
Mike Ock wrote:
Now Nakumatt Mega is being chased from their building due to rent arrears.

http://www.businessdaily...53310-fsu4ks/index.html

The only move left for these guys is to sell all the remaining stock, pocket the cash, declare bankruptcy and close.


You will see wonders from september


What wonders, what do you mean???

Branches shutting down


After Nine Months, Nakumatt Shuts Down NextGen Mall outlet along Mombasa Road

http://kenyanwallstreet....utlet-along-mombasa-road
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Chaka
#389 Posted : Friday, September 08, 2017 9:55:27 AM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
That headline should read as 'Nakumatt To Shut Down...'?

[quote=Ericsson]

After Nine Months, Nakumatt Shuts Down NextGen Mall outlet along Mombasa Road

http://kenyanwallstreet....tlet-along-mombasa-road[/quote]
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Juojo
#390 Posted : Friday, September 08, 2017 10:54:35 AM
Rank: Member

Joined: 7/7/2009
Posts: 41
Walked into Nakumatt Mega and could literally smell the stench of death.The shelves were empty. The look on the faces of the few employees hanging around discussing in small groups was heartbreaking
Happiness is not the absence of problems, It's the ability to deal with them
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