Shoprite has announced it will be closing down its Kano Mall on January 14, 2024.
In a circular made available to newsmen, the popular mall linked its recent move to financial difficulties and high production costs currently hitting business establishments in the country.
The statement signed by the company’s chief operating officer, Mubertus Rick read “I regret that our store in Ado Bayero Mall, Kano, will close its doors on January 14, 2024. This decision was not made lightly, as we understand the impact it may have on our employees and the community.
“However, after careful evaluation of the financial situation of the store and the current business climate, we believe that it is the best cause of action for the long-term growth of our organisation.
We understand that this news may be difficult to digest. We want to assure you that we are here to support you during this transitional period, your well-being is our top priority, and we will do everything we can to assist you in finding new opportunities within our company, we encourage you to apply for any vacant position in existing our store across the country through the Human Resources department,”
This development comes amid the recent mass exit of multinationals from the country.
In the past 10 months, over six foreign firms which include Unilever, GlaxoSmithKline, Sanofi, Bolt Food, Procter & Gamble and most recently, Jumia Foods have announced plans to shut down operations in the country.
The Nigerian retail industry is currently grappling with a lot of challenges which include escalating costs of business operations and mounting inflationary pressure, a situation which has forced many companies, and small and medium-sized businesses to close shop.
The South African retail store, however, said it would be opening new stores in the coming months in other locations and advised some of its workers who will be affected by the closure of its Kano branch to apply in the new stores.
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