Shoprite, one of the biggest retail supermarkets in Nigeria, will be closing its Wuse Store located in Novare Wuse Central Mall, Abuja, due to the biting economic crisis in the country.
Shoprite’s decision to shut down the mall is contained in a circular issued on Tuesday.
It explained that the decision was made after a thorough evaluation of the store’s financial situation and Nigeria’s current business climate.
The circular reads:
“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.
”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.
“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 (about 2 months).
“We will then promptly contact you to confirm the amount owed and discuss a suitable payment schedule.
“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,” the circular reads.
Periscope International recalls that due to the current economic crisis, nearly ten big business organizations have shut down their operations in Nigeria within one year since President Bola Tinubu took over power on May 29, 2023.
