THE STANDARD By
Wainaina Wambu |
January 12th 2021 at 00:00:00 GMT +0300
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THE STANDARD By
Wainaina Wambu |
December 24th 2020 at 00:00:00 GMT +0300
The developers of Village Market and Tribe Hotel have threatened to start liquidation proceedings against Nairobi Business Ventures (NBV) over a Sh5.2 million debt.
In a 21-day statutory demand notice, Greenhills Investments said the sum included rent and interest owed up to November 19 this year.
NBV started out as a leather products retail chain operating under the brand name K-Shoe but exited the retail business amid losses that saw it close the stores.
The firm operated six outlets and one of its flagship stores was at the Village Market.
“You shall secure or compound for the said sum of Sh5,238,436.70 (includes rent and interest to date) to Greenhills Investments Ltd’s satisfaction or satisfaction of the court, or you shall satisfy the court that you have a counter-claim, set off or cross demand against Greenhills Investment,” said the notice.