Nakumatt once had more than 60 outlets across East Africa and was on top of USD 700 Mn in annual revenue. Nevertheless, the supermarket chain's creditors voted to liquidate the business after series of revival strategies fell through. But, seemingly, its troubles are far from over.
Ever since Nakumatt's foundering and Uchumi's apparently limitless fight to remain on its feet, regulators started paying more attention to Kenya's retail sector, since it attracts huge amounts of foreign investment.
