The Nakumatt Entebbe Branch officially called it quits in Entebbe Municipality on Thursday after it failed to deal with cut throat competition and struggling economy plus broke Ugandans who cannot afford to shop in supermarkets. The Kenyan supermarket chain officially said bye bye to Entebbe Municipality after it failed to sort out and clear several outstanding debts including chocking rent bills that had accumulated for the last couple of years. Highly placed sources revealed that Knight Frank, the proprietors of Victoria Mall were demanding close to Eighty Million Shillings (Shs80m) in rental arrears from Nakumatt and to make matters worse the staff were demanding for their salaries and almost rioted over their salary arrears.
Our scouts revealed that of late Nakumatt has been struggling ever since business started to decline and a few months ago court bailiffs stormed the supermarket premises and confiscated several bread manufacturing equipment after they failed to clear a shs10m debt from a supplier. For the couple of days they have been secretly removing the supermarket items and equipment one by one to avoid being detected by the public.
We are reliably informed that another supermarket chain most likely Shoprite will in the next couple of weeks occupy the premises after finalizing the deal with Knight Frank.
