From the category archives:
India’s biggest discount retailer said hundreds of its stores were attacked over the weekend, after it failed to pay its security guards because of liquidity troubles.
The attack points to the potential socio-economic implications of the credit crisis hitting India’s ailing retail industry.
Subhiksha Trading Services said about 600 of its discount food stores and warehouses were [...]
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Feels the heat of global credit crunch; cuts down staff base by 70%.
To centralise operations in Delhi to trim costs.
Seven of 27 stores in Western Zone closed down.
Profit declines by 86% in December quarter.
Varada Bhat
Mumbai, Feb. 5 Delhi-based Vishal Retail is planning to close down about one third of its 172 retail outlets and downsize [...]
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India: Reliance exits cash & carry biz
Reliance Retail has dumped its cash & carry business, or wholesale trading plans, with the entire operational management headed for an exit. The move to defer cash & carry operations, at least for the time being, is part of the firm’s strategy to conserve cash in a deteriorating market, [...]
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Bhubaneswar: Eyeing the fast growing construction market, leading cement company Ultratech is planning to open 400 new unique retail outlets across the country, including many more in Orissa soon.
Redefining the shopping of construction materials by opening 89 Ultratech Building Solutions (UBS) retail outlets, including five in Orissa, the company is planning to add six more [...]
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