Popular retail franchise SHOPRITE, has via a release signed by the CEO, Dr Folakemi Fadahunsi, announced plans to shut down one of its retail outlets located in Novare, Wuse Central Mall, Abuja. Informing vendor partners of the terminationof their services which is effective from their proposed shutdown date of 30th June 2024, the retail franchise attributed its decision to a thorough evaluation of the store’s financial situation and the current business climate.While expressing gratitude to the vendors for past business dealings, the release by the Shoprite CEO stated that accounting records between the retail outlet and soon-to-be past vendors, will be reviewed over the next 60 days.
Shoprite Holdings entered Nigeria in 2005 and built a substantial network of supermarkets before exiting in 2021. Its stores were owned by Shoprite subsidiary Retail Holdings Nigeria, which was sold to Ketron Investment, itself a subsidiary of Nigerian shopping mall owner Persianas Investment.
Comments
Post a Comment