Shoprite has announced that it will close its branch at Novare Central Mall in Wuse Zone 5, Abuja, on June 30, 2024.
This news was shared in a letter signed by the CEO, Dr. Folakemi Fadahunsi, which was obtained on Monday.
A staff member at the store, who asked not to be named, confirmed the closure, saying, “Yes, it is true, we just heard it here too.”
The decision was made after reviewing the store’s finances and the current business environment, while the company informed its vendors that their services will no longer be needed at this location.
The letter stated, “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.”
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It also mentioned that Shoprite will review its accounting records in the next 60 days to settle any outstanding balances with vendors.
“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.”
The letter concluded by expressing gratitude to the vendors, stating, “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.”
Beyond Boders further reports that this closure is part of a larger trend of multinational companies leaving Nigeria.
Recently, Diageo sold its 58.02 percent share in Guinness Nigeria to Tolaram Group. Over the past five years, many companies have exited Nigeria, causing significant economic impact.
Notable companies that left include Standard Biscuits Nigeria Ltd, Unilever Nigeria PLC, and Microsoft Nigeria.
