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More trouble for Nakumatt as TRM seeks to attach property over rent arrears

Retail chain Nakumatt’s troubles have deepened after one of its creditors, Thika Road Mall (TRM), attached large amounts of the supermarket’s goods and equipment seeking to recover Sh51 million in rent arrears.

TRM, through Moran Auctioneers, seized a number of Nakumatt’s assets, including six moving trucks, 400 customer trolleys, office furniture, ovens and other electrical appliances, forcing the retailer to rush to court for an order temporarily suspending the auction.

Court documents indicate that TRM had taken the drastic action after prolonged negotiations to unlock the rent arrears impasse failed.

Nakumatt wants the court to stop TRM’s owners from selling its assets to recover rent arrears, and to bar them from evicting the retail chain from the Roysambu-based facility.

The suit papers show that Nakumatt owed the mall owners Sh51,896,027 by June 7, but do not indicate how long the retailer has been in rent default.

Read more here.