Indian retailer Reliance Retail is reportedly planning to close 25-30 unprofitable Reliance Fresh stores.
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According to a report by NDTV, among the closures will be around 10 stores in Rajasthan, two outlets in Ahmedabad and at least one shop in India’s National Capital Region.
However, no layoffs are expected, as the group will absorb employees at the affected stores.
When contacted by just-food today (5 February), Reliance declined to comment on the report.
However, a spokesperson for the company did acknowledge that it was “monitoring” its operations in order to keep costs down in the face of “difficult” economic conditions.
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By GlobalDataThe news follows speculation that the company has put a freeze on its expansion into the wholesale market.
