FEATURED ARTICLE

Nakumatt protests closure of Junction Mall

Share
Share

Nakumatt Supermarket has issued a statement accusing the Junction Mall management of closing their Junction branch illegally, terming it as unfair and a breach of agreement.

This comes after the Junction Mall management published a notice claiming that Nakumatt had surrendered the premises, after failing to adhere to certain agreements of lease.

“In the wee hours of Saturday night, the managers of the Junction Mall illegally, deceitfully and using trickery locked our premises in breach of our existing lease arrangement (including relying on a superseded and terminated surrender),” read the statement in part.

According to details of the agreement divulged in the statement, Nakumatt was to pay Junction Mall Ksh20 million by December 1st and restock the premise to previous levels of normal trading by the said date.

Nakumatt claimed to have paid Ksh 20 million and was taking necessary steps to ensure the premise was stocked, which they satisfactorily demonstrated to Junction Mall management.

ALSO SEE: Nakumatt warehouse taken over unpaid taxes

“We have taken verifiable steps to ensure that the premises are adequately restocked by 1st December 2017, including by providing approximately Ksh64 million of stock to the branch. In this regard, we met the directors of the Junction Mall led by Director Andrew Ndegwa and the MD of Knight Frank Ben Woodhams on 25th September 2017 to demonstrate to the restocking plans we had initiated and was building up to achieve full stocking by 1st December 2017. The directors and managers wished us well in this endeavor,” read the statement

Nakumatt further demanded access to the closed premises in order to continue with business, terming the behaviour by Junction Mall as predatory.

“The Junction Mall’s underhand actions on Saturday night, including locking the branch and publicizing a fraudulent and misleading notice claiming that the premises have been surrendered by Nakumatt, are clearly contrary to the terms of agreement, illegal and of utmost bad faith,” They concluded.

Nakumatt has been facing financial constraints, with most of its branches running out of stock and others being closed. This has thus forced the management to enter into a partnership deal with its rival the Tuskys, in a bid to resurface her dwindling fortunes.

 

 

Written by
FRANCIS MULI

Editor and writer, Francis Muli has a passion for human interest stories. He holds a BSc in Communication and Journalism from Moi University and has worked for various organisations including Kenya Television Service. Email:[email protected]

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PAST ARTICLES AND INSIGHTS

Related Articles
Absa Bank
NEWS

Absa Bank Kenya Partners With Gen Z Connect On Youth Empowerment

Absa Bank Kenya has signed a Memorandum of Understanding (MoU) with Gen...

Nairobi securities exchange
ANALYSIS

 NSE Market Capitalization Hits KSh 3.762 Trillion in June

NSE (Nairobi Securities Exchange) concluded both June and the second quarter of...

1. KenGen Managing Director and CEO Eng. Peter Njenga (Right) poses with Principal Secretary State Department for Environment and Climate Change Eng. Festus Ngeno (left) and UN Global Compact Kenya Executive Director Judy Njino during the launch of KenGen's inaugural Sustainability report at Karura Forest in Nairobi.
BUSINESS

KenGen Targets 5,500MW Energy Pipeline by 2034

KenGen(Kenya Electricity Generating Company), has strategically recalibrated its long-term growth ambitions, expanding...

Vodacom
ANALYSIS

Vodacom Completes US$ 2.1Bn Acquisition of 20% Govt. Stake in Safaricom

Vodacom has completed its acquisition of an additional 20% effective stake in...