Shoprite Mall has announced it would shut one of its Abuja branches from June 30, 2024 after what it described as thorough evaluation of the store’s financial situation and the current business climate.
CEO of the retail supermarket Folakemi Fadahunsi announced this in a circular obtained on Monday.
The affected branch is situated at Novare Central Mall in Wuse Zone 5.
Fadahunsi notified vendors that their services would no longer be needed at the store.
The circular read, “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.”
The circular added the company would be reviewing its accounting records in the next 60 days to settle outstanding balances.
“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,” it added.
This is the latest in the exodus of firms from Nigeria.
This year alone, five major companies have left Nigeria. They are Microsoft Nigeria, Total Energies Nigeria (affected by its divestment), PZ Cussons Nigeria PLC, Kimberly-Clerk Nigeria, and Diageo PLC.
