Friday, May 1, 2009

Reliance Fresh outlets may be closed in Jharkhand

Reliance Fresh Mukesh Ambani-controlled Reliance Retail, which is reviewing the performance of Reliance Fresh outlets in Jharkhand, may close down the non-viable ones.

According to a company source, a group of technical experts are reviewing the performance of Reliance Fresh outlets. "Those that are not doing well may be closed down. In that case, their assets will be merged with other units. This is being done at the national level," the official said.

Retail industry circles indicated the sales at Reliance Fresh outlets had been impacted by the recession.

Incidentally, Reliance Retail had launched its first outlet in November 2006 under the Reliance Fresh banner. In Jharkhand, there are 10 Reliance Fresh outlets in Ranchi, while Jamshedpur and Dhanbad seven each. A Reliance hyper mart was also inaugurated in Ranchi last year which is said to be one of the biggest, with 33,400 sq ft floor space and 30,000 products

Incidentally, two Reliance Fresh outlets -- one in Upper Bazaar, Ranchi and one in Jugsalai, Jamshedpur -- have already closed down. However, this is being attributed to non-viability due to their poor location. And performance of many others are reportedly poor.

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