Nakumatt evicted from the Junction shopping mall
Nakumatt has been evicted from the Junction shopping mall along Ngong road by the mall’s management due to accrued rent arrears .
According to Citizen Digital’s sources, Knight Frank-a real estate company that manages the building-gave an eviction notice to the branch’s management after negotiations between the two parties broke down.
“Take Notice that Nakumatt Holdings Limited has relinquished its rights over this premises pursuant to a surrender dated 15th September, 2017.” Read the notice in part.
It is still unclear how long the store will remain closed.
The Chain store’s staff have been granted access to the property to pick their belongings but the store remains closed to the public.
This comes amid Nakumatt’s talks with Tuskys as part of a recovery plan to revive the ailing retail giants.
Nakumatt has over the past year suffered from high indebtedness that has seen it fail to honor its financial obligations with suppliers canceling delivery orders, further straining its operations.
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