Retail chain Nakumatt Supermarkets has closed 3 of its branches in Uganda, The Tower Post has learnt.
Nakumatt on June 28th closed its stores at Acacia Mall in Kololo, Village Mall in Bugolobi and Victoria Mall in Entebbe.
According to Knight Frank Uganda, “the Supermarket space in these malls will go under re-development to add additional value to shoppers and their shopping experience.”
“The balance of the stores in the malls will continue to trade for your convenience as per our usual high standards,” the statement from Knight Frank also reads.
Nakumatt has for the past two years been facing a financial crisis that even led to the temporary closure of its Katwe branch located on Muganzilwaza building over accumulated rent arrears.
They later revealed that they were restructuring in major processes including reviewing terms with its suppliers, recruiting qualified personnel to handle specialized units and integrating the supermarket’s warehouse management system.