Sumary of Future Retail suspends supermarket operations as Reliance plans takeover:
- Future Retail Ltd, India’s second-largest retailer, hang most of its online and offline operations as stores be shut on Sunday, after rival Reliance bid to take over its thing supermarkets for missed lease payments.
- Future Retail suspends supermarket operations as Reliance plans takeover – Big Bazaar – Facebook Reliance Industries Ltd will rebrand the Future stores after the company failed to make payments for them to Reliance, points express Reuters on Saturday, closing most outlets of the popular Big Bazaar series.
- Though Future has more than 1,700 outlets, all the 200 stores that Reliance will rebrand as its own will be Big Bazaars, which was started around two decades ago by Kishore Biyani, dubbed as India’s retail ruler for transforming the sector.
- Future express capital exchanges on Saturday the company was measure down its operations.
- Future’s stores across India be shut on Sunday as Reliance did capital-taking ahead of a rebranding, groups acquainted with the plans said.