Shoprite Mall has announced the closure of its branch at Novare Central Mall in Wuse Zone 5, Abuja, effective June 30, 2024. The decision follows a comprehensive assessment of the store’s financial performance and the prevailing business environment, as stated in a circular signed by CEO Dr. Folakemi Fadahunsi on Monday.
Shoprite expressed gratitude for the patronage received over the years and offered support to customers and employees during the transition. This closure is part of a broader pattern of multinational companies exiting Nigeria, highlighted by Diageo’s recent sale of its 58.02% stake in Guinness Nigeria to Tolaram Group on June 11, 2024.
The circular states: “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 company will review its accounting records over the next 60 days to settle outstanding balances and will contact vendors to confirm the amount owed and discuss a suitable payment schedule.”
