Kenyan Wall Street | by Jackson Okoth
Nakumatt liquidation has been moved to February 2021 by the High Court after the administrator requested an extension of the process.
In a ruling made on November 5th, 2020, Judge Alfred Mabeya extended Nakumatt’s administration to February 10, 2021, when the liquidation process is expected to close.
The Parker Randall administrator cited a lengthy windup process that was made worse by COVID-19 related disruptions.
In 2019, remnant Nakumatt branches’ sale realized a paltry KSh 422.5 Million against an outstanding debt estimated at KSh 38 Billion…
