Kalema Lawrence
Tuskys Supermarket has officially merged business with struggling Kenyan Nakumatt Supermarket venture following the signing of the merger deal that will see Nakumatt access stock from suppliers using Tuskys supermarkets’ goodwill and value chain though the brand will stay as it is.
According to reliabl sources, Nakumatt Chief Atul Shah has agreed to pledge his shares for six years to the financiers with the hope that this will offer a solution to his Venture’s financial challenges.
Since the March of this year, Nakumatt has been facing financial woes that even saw off several stores in major Cities of Uganda and Kenya close down allegedly as a result of multi-billion Shillings debts to suppliers, banks and tax bodies.
