Former Nakumatt CEO Atul Shah to Lose Lavington Home to Auctioneers

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Mr Atul Shah will lose his Lavington 4 bedroom villa before the end of this month. He is said to have used the Villa as security to the multiple bank loans.

ATUL SHAH

Through Philips International Auctioneers, His Lavington Villa will be sold on 24th August. According to a representative from Philips International , they are looking to sell at sh30million.

It was offered as security in 2011.

By February 2017 Nakumatt had 65 stores in five different countries. Poor management and debt led to Nakumatt shutting down. By December 2019, only 3 stores were left in Kenya after the rest were shut down.

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