NAIROBI, KENYA, DEC 16 — 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 , 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 Bounce Back, 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.
Not withstanding 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.