Retailer Nakumatt Holdings (Under Administration) has returned
to its founding nest along Uhuru Highway with the soft launch of its
seventh branch.
Literally retracing its steps, Nakumatt
Holdings has taken up space at the original Highway Mattresses
(Nakumatt Mega precursor) premises which has been housing Ivory
Lifestyle clothing store in recent times.
In 1989,
Highway Mattresses, established its first store adjacent to the current
Highway Mall building before expanding to the next building neighbouring
the then Car & General showroom along Uhuru Highway.
Nakumatt Holdings has taken up a 40,000 square feet space that will house its refreshed Nakumatt Mega store.
Speaking
when he confirmed the retailer’s return to its founding space, Nakumatt
Holdings Administrator, Peter Kahi said the return is symbolic of the
firm’s commitment to return to a formidable retail player status in the
coming years.
“Nakumatt is back at the same spot where
it defined its growth trajectory more than two decades ago. This time
round, the firm is committed to reclaiming its place in the local retail
sector; albeit cautiously,” Kahi said.
Following the
soft launch today, the refreshed Nakumatt Mega, is stocking a range of
non-food items on the store’s ground level. Preparatory works are
ongoing at the store’s lower ground level which will house the food and
general home commodities section scheduled for opening within the next
two weeks.
Earlier this year, Nakumatt Holdings, announced that it had embarked on a business recovery programme.
The recovery programme dubbed Nakumatt BounceBack, is supported
by scores of local and international suppliers keen on seeing the firm
back on track.
As part of the recovery strategy, the
firm has announced the optimum restocking of six key branches in
Nairobi, Nakuru and Kisumu.
Notwithstanding the current
state of business operations, Nakumatt still believes that it has a
strong underlying sustainable core business that is capable of a
turnaround with the support of all stakeholders. Nakumatt considers that
administration provides it with the best opportunity to effectively
restructure its business.
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