Gold Crown Beverages has filed a petition seeking to liquidate Nakumatt Supermarket over a Sh 60 million debt it says has remained unpaid since January last year.
The petitioners wants Nakumatt liquidated by the court under the provisions of the Insolvency Act 2015 and also wants the court to appoint a receiver who is an authorized insolvency practitioner as the provisional liquidator.
Gold Crown claims that the supermarket has committed various bankruptcy offences within the last 2 years before the filing of the petition.
They allege that the debt amount owed by Nakumatt is within the prescribed insolvency level in accordance with the Insolvency Act, 2015
They argue that they have made repeated requests to the company for the payment or part payment of the debt but Nakumatt has failed to pay the debt amount.
In an affidavit by Gold Crown Beverages senior manager, Finance and Accounts David Karanja, the claim that it is only fair that the court grants them a Liquidation order for the liquidation of Nakumatt.
Gold Crown claim that on June 2nd this year they wrote a demand letter for the payment of the debt but Nakumatt failed to comply.
High Court deputy registrar Elizabeth Chepkoich Tanui directed Gold Crown to advertise its petition to the public before the liquidation proceedings can continue.
The parties will appear before the court for mention on the September 17th for further directions.
Nakumatt has in the recent past been undergoing financial troubles that even some of those owed by the it threaten to auction them.
the supermarkets is currently unable to pay most of its suppliers to whom they owe billions of shillings, rent among other expenses.
