Eight businesses which are tenants at Garden City Mall are currently facing auction over unpaid rent due to the current economic turmoil that has driven profits to the ground.
In a notice dated July 15 and published as Gazette Notice 5425 by Maduwande Auctioneers, the landlord at the mall plans to auction off the businesses assets on August 19.
Among the affected businesses an African attire clothing store, a shoe store, a restaurant and a nail bar.
The auction is expected to mainly dispose of the businesses day to day operation tools among them tables, vending machines, utensils, display counters and electronics.
A few weeks ago Imax Kenya was auctioned at its iconic 20th Century Plaza theater over unpaid rent arrears, Items worth millions belonging to Tuskys Supermarket are also set to be sold through public auction. In an advertisement in the dailies a few days ago, Legacy Auctioneers announced that the items will be sold to recover over Sh12 million rent arrears owed to its client. “We have moved and secured some of the items and kept them at the basement,” said a source at the auctioneers who declined to be named.
The recurrent auctions mirror the ongoing business plight in the country as enterprises struggle to stay afloat from thinning revenues arising from a shortfall in customer footfall following the entry of the COVID-19 pandemic in the country.
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