Nakumatt given two weeks to produce rent surrender list

Nakumatt given two weeks to produce rent surrender list

- in Business, News

The High court has allowed embattled Nakumatt Holdings two weeks to table a list of premises they will vacate as they recover from insolvency.

Justice Mary Kasango gave the orders after the retailer, through administrator Peter Kahi, filed an application seeking to vacate premises they do not need.

“I grant Nakumatt a period of two weeks to appear in court and indicate the premises that are being surrendered and should endeavour to have signed surrenders,” the judge said.

Nakumatt’s lawyer Samuel Aduda had asked the court for two weeks, saying the administrator had tabled a report of the premises they need to surrender in its recovery efforts.

“We need two weeks of consent to negotiate the application on surrender because we have eight names of premises we are vacating and if allowed I would name them,” Aduda said.

However the landlords, through their lawyer, argued the retailer is using the surrender list to blackmail them into reducing the rent arrears owed.

“Nakumatt has been sitting on the surrender list for a month as they continue to blackmail us to reduce rent, we urge the court to ensure that signed surrenders are brought to court, failure which we will proceed with the matter,” the landlords said.

Aduda dismissed allegations landlords were being blackmailed and said Nakumatt is willing to settle the arrears and has engaged landlords directly or through lawyers.

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