The shoprite franchise operator in Nigeria, Retail Supermarkets Nigeria Limited (RSNL), has stated that it will close its Ado Bayero Mall store in Kano, Kano State, Northwest Nigeria, on January 14, 2024.
Mubertus Rick, the company’s representative, signed a closing announcement dated December 7, 2023, stating that the store’s closure was the result of a thorough assessment of its financial status and the state of the business environment.
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The notice, sent to staff members and titled “Ado Bayero Mall Store Closing Announcement,” states, “I regret to inform you that our Stores in Ado Bayero Mall, Kano, Kano State will be closing its doors on January 14, 2024.” We considered the potential effects this choice may have on our workers and the community before making it.
But after carefully assessing the store’s financial status and the state of the business world, we think this is the wisest course of action for our organization’s long-term development.
We acknowledge that this news may be hard to process, but we want to reassure you that we are here to support you while you go through this adjustment. Our first concern is for you, and we’ll do everything in our power to help you discover new prospects within our organisation.
“We invite you to apply through the Human Resources department for any open openings at any of our current stores across the nation. In the upcoming months, we will also be launching new stores, and you are invited to apply for jobs there as well.
“Over the years, your devotion, diligence, and hard work to our company have been greatly appreciated. We are appreciative of the value you have added to our team; your efforts have been essential.
“We will make every effort to make this transition as easy as possible for all parties concerned. We will give you more specifics about severance compensation and other pertinent information in the following days and weeks.
We would like to thank you once more for your contributions to the success of our business. As we go, we hope that you will continue to stay in touch with us. Please do not hesitate to contact our Head of Human Resources, the Chief Operating Officer, or myself if you need help or have any queries.
On its website, RSNL boasts that it opened its first store in Lagos, Nigeria, in December 2005 and has since grown to 26 locations throughout 14 states. Additionally, the business operates a 4,732-square-meter distribution hub in Lagos that enables direct deliveries of fruits and vegetables from nearby farmers to Freshmark-Shoprite’s fruit and vegetable procurement and distribution division.
Persianas Investment Limited completed the purchase of RSNL from SHL in May 2021 through an SPV called Ketron Investment Limited. This allowed Persianas Investment Limited to take ownership and management of Shoprite outlets in Nigeria.
Nigerian business Ketron Investment Limited purchased RSNL, the company that owned Shoprite stores across the country, in 2021.
Ketron obtained full control of Shoprite in Nigeria with permission from the Federal Competition and Consumer Protection Commission (FCCPC). The company plans to open more stores to maximise awareness for the large range of products created in Nigeria as well as those from other countries.
According to recent reports, Procter & Gamble (P&G), the largest personal care and household products company in the world and the creator of popular brands like Pampers and Gillette, has stated that it will be ending its on-the-ground presence in Nigeria and switching from local production to importation only.
According to Business Insider Africa, the American corporation emphasised the difficulties of operating as a dollar-denominated organisation and explained its strategic choice by pointing to the macroeconomic circumstances in Nigeria.
GlaxoSmithKline (GSK), a major multinational pharmaceutical company, shut down its operations in Nigeria a few months ago. GSK has been a leading pharmaceutical company in the world for 51 years, and it is still based in Nigeria.
