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THIS WEEK: URA moves to auction Nakumatt Supermarket goods

THIS WEEK: URA moves to auction Nakumatt Supermarket goods over tax arrears

Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority has commenced auctioning of Nakumatt Supermarket’s goods as it seeks to recover millions of shillings owed by the struggling regional retail chain.

The clearance sales at two of Nakumatt’s Kampala outlets, Bugolobi and Kamwokya, commenced last week even as the taxman said that talks are still ongoing with the retailer over possible recovery of US$71,000 dues.

Last month, URA took over Nakumatt’s operations in the country to give itself first priority on all income, as several creditors in Kampala and Kenya bay for the retailer’s blood.

The move saw it take over three Nakumatt branches and the retailer’s warehouse, which also doubles up as its Uganda headquarters.

“The clearance sale has started with Bugolobi branch… After, we move to Kamwokya as we continue talks with the client,” the URA said on its official Twitter page.

Nakumatt is facing huge debt woes in Kenya and Uganda with several creditors surfacing to claim worth millions of shillings. URA said it will later advertise auction dates for Nakumatt’s non-perishable goods, winding up with auctioning at Oasis Mall branch.

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The post THIS WEEK: URA moves to auction Nakumatt Supermarket goods appeared first on The Independent Uganda:.

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This post was syndicated from The Independent Uganda:. Click here to read the full text on the original website.

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