We Are NOT Closing Down Any Branch” Nakumatt Directors Issue Public Statement

One of the biggest retailers Nakumatt is rumored to be on its knees under the weight of mounting debts, estimated to be upwards of Sh15 billion which could lead to its closure. The Nakumatt chain director Mr Atul Shah even put blame on  the government for the current financial troubles claiming that the rumored closure was forced by people who wanted to forcibly take over the family business.
Rumors have been circulating over the past week that 8 retail branches were facing closure soon due to the problems facing the privately owned company. The rumors which were started on social media was strongly refuted by the directors who issued a public statement saying that none of the mentioned stores was being closed.
Although the Government has no plans to bail out struggling retail giant the owners are still hopeful for a better future.

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