SHOPRITE TO CLOSE STORE IN KANO OVER HARSH ECONOMY, POOR PURCHASING POWER OF CONSUMER
Poor purchasing power of the consumers is forcing the Retail Supermarket Nigeria Limited, operating as Shoprite Nigeria to close down its store that is located at Ado Bayero Building in Kano State.
The other reasons that the company sited was high cost of doing business, rental cost and its ethical commitment.
A statement signed by the Chief Executive Officer (CEO) of the company , Hubertus Rick, said Shoprite is not renewing its rent at the Ado Bayero store because the store has recorded negative financial performance and is not encouraged by the prevailing general business climate.
Rick said: “after careful evaluation of the financial situation of the store and the current business climate, Shoprite believes it is the best course of action for the long-term growth of our organization.”
The CEO also emphasised that the decision does not imply that Shoprite will not do business again in Kano.
According to the CEO, when the business environment becomes favourable it will return because Kano is a big city with room for a Shoprite concept.
Taking about the fate of the staff, Rick said:
“we understand that this news may be difficult to digest, and we want to assure you that we are here to support you during this transition 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 positions in our existing stores across the country through the Human Resources department.
“Additionally, we will be opening new stores in the coming months, and you are welcome to apply for employment there as well.”
Credit: Facebook|Rivers State Television