Auction of Nakumatt goods starts next week

KAMPALA. Nakumatt Supermarket assets have been valuated under private contractors to make way for Banar Collections and Batume Auctioneers to auction off the goods to raise more than $500,000 (Shs180m) for the landlord of Gayaza premises where Nakumatt Supermarket warehouse once sat and Shs256m in tax debts to Uganda Revenue Authority (URA).
By the orders of URA and the Gayaza warehouse landlord, valuation of Nakumatt supermarket goods has been concluded ahead of the auctions aimed at attaining the remaining balance due to the aggrieved.
A court order by the Chief Magistrate’s court in Mengo under rent distress number 176 of 2017, granted the landlord the power to auction away electronic gadgets, consumer goods, furniture and soft drinks in a bid to pay the debt in rent arrears.
According to Mr Ronald Namara, the manager Banar Collections, his company was contracted by URA to handle the auction while Batume Auctioneers represent the Gayaza landlord.
“We have completed the valuation process. Most items will be sold by public auction while others will be sold by private treaty depending on the nature of the item. The sale will begin on October 2, 2017 beginning with items at their warehouse at Mpererwe, Gayaza Road. Since their assets are in different locations at their various branches, it may take us more than one day,” he said.
However, he added that in the event Nakumatt pays off the debt, the auction can be halted and if goods from one sale clear the debt, with the guidance of commissioner general Doris Akol, the auction can be suspended and remaining assets handed back to the supermarket.
Speaking to Daily Monitor, URA spokesperson Vincent Seruma said despite valuation of the goods, URA is still in talks with Nakumatt Supermarket management to determine a payment plan for the remaining debt.
He said the authority’s mandate is to have functional and strong tax compliant customers making its main goal to see that Nakumatt gets back to business rather than sell off its goods.
He revealed that the perishable goods auctioned off at the Naalya branch last month was to save its taxpayer from more losses since they were bound to rot or expire if left in the defunct supermarket.
He said: “...the auction that we did was for the interest of the taxpayer because the perishable items would go bad meaning that he continues to make losses.”