Thika Road Mall moves to seize Nakumatt assets over rent arrears

NAIROBI, KENYA: Nakumatt has moved to court to block Thika Road Mall owners from seizing its assets over rent arrears.

The retailer is currently facing financial challenges and is said to owe the mall Sh51m in rent arrears.

Nakumatt has closed a number of its branches both locally and with the region. It announced closure of three of its top branches in Uganda last week.

The affected Ugandan stores are in Acacia Mall; Kololo, Village Mall, Bugolobi and Victoria Mall, Entebbe were on Wednesday last week closed indefinitely. Knight Frank Uganda is the property manager of the malls.

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