Business
Economic Crisis: Shoprite To Shut Down Another Branch By June 30
Shoprite has announced its decision to close one of its branches in Abuja starting on June 30, 2023.
This significant development was communicated through a circular signed by the Chief Executive Officer, Dr. Folakemi Fadahunsi, on behalf of the retail supermarket.
The circular outlined the reasons behind this decision, attributing it to the prevailing financial situation in the country and the challenging business climate.
The statement expressed deep regret for any inconvenience caused by this closure but emphasized that it is a necessary step for the long-term growth and sustainability of the organization.
“We regret to inform you that as of June 30, 2024, Retail Supermarkets Nigeria Limited will be closing its Wuse Store located in Novare Wuse Central Mall, Abuja.
Economic Crisis: Shoprite To Shut Down Another Branch By June 30
This decision has been made after a thorough evaluation of the store’s financial situation and the current business climate. We believe this is the best course of action for our organization’s long-term growth.”
“Effective June 30, 2024, our company will no longer operate in Wuse, Abuja, and we will no longer require your services for the Novare Wuse Central Mall Store.
Please note that all existing service contracts will also terminate for the store”, the circular stated.
In addition to announcing the closure, the circular indicated that the company would be conducting a review of its accounting records over the next 60 days to ensure that all outstanding balances are settled.
“If your services are specifically tied to the Novare Wuse Central Mall Store and if there is an outstanding balance between our companies, we will carefully review our accounting records over the next 60 days.
We will then promptly contact you to confirm the amount owed and discuss a suitable payment schedule,” the circular explained.
The circular concluded by expressing gratitude to all service providers and partners who have contributed to the store’s operations.
“We would like to express our gratitude for your past business. It has been a pleasure working with you and your team. If you have any questions or concerns, or if there is anything we can do to assist you during this challenging transition, please do not hesitate to reach out to us,” it added.