Shoprite Announces Closure of Wuse Abuja Store, Blames Business Climate

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Shoprite Blames Business Climate for Abuja Store Closure

Shoppers in Abuja will soon have one less shopping option as Shoprite has announced the closure of its store located in the Wuse area, effective June 30th, 2024.

The decision comes after a “thorough evaluation of the store’s financial situation and the current business climate,” according to a circular issued by Dr. Folakemi Fadahunsi, Chief Executive Officer of Retail Supermarkets Nigeria Limited, the company operating Shoprite stores in Nigeria.

The circular expresses regret for the closure’s impact and informs vendors that their services will no longer be required after the closure date. It states, “We believe this is the best course of action for our organization’s long-term growth.”

The closure adds to concerns about the overall business climate in Nigeria. While the specific details of Shoprite’s financial struggles haven’t been disclosed, the company cites it as a contributing factor alongside the broader business environment. This news is likely to have a significant impact on staff employed at the Wuse store and vendors who relied on Shoprite’s business.

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