The Retail Supermarkets Nigeria Limited (RSNL), the Nigerian operator of the Shoprite franchise, has announced the closure of its Ado Bayero Mall Store in Kano State, starting January 14, 2024.
A closing announcement dated December 7, 2023, signed by Mubertus Rick for the company, said the company’s decision to close was based on a thorough assessment of its financial situation and current business climate.
Titled: “Ado Bayero Mall Store Closing Announcement,” the announcement addressed to employees reads: “I regret to inform you that our Stores in Ado Bayero Mall, Kano, Kano State will be closing its doors on January 14, 2024. This decision was not made lightly, as we understand the impact it may have on our employees and the community.
“However, after careful evaluation of the financial situation of the store and the current business climate, we believe it is the best course of action for the long-term growth of our organization.
“We understand that this news may be difficult to digest, and we want to assure you that we are here to support you during this transitional period. Your well-being is our top priority, and we will do everything we can to assist you in finding new opportunities within our company.
“We encourage you to apply for any vacant positions in our existing stores across the country through the Human Resources department. Additionally, we will be opening new stores in the coming months, and you are welcome to apply for employment there as well.
“We deeply appreciate your dedication, hard work, and commitment to our company throughout the years. Your contributions have been invaluable, and we are grateful for the value you have brought to our team.
“As we navigate this transition, we will ensure that the process is as seamless as possible for everyone involved. In the upcoming days and weeks, we will provide you with more information regarding severance packages and other important details.
“Once again, we want to express our gratitude for your contributions to our company’s success. We hope that you will stay connected with us as we move forward. If you have any questions or require assistance, please don’t hesitate to reach out to me, the Chief Operating Officer, or our Head of Human Resources.”
RSNL, launched in Lagos in 2005, has expanded to 26 outlets across 14 states and a 4,732-square-meter distribution centre for Freshmark-Shoprite’s fruit and vegetable procurement.
Persianas Investment Limited, through Ketron Investment Limited, acquired RSNL from SHL in May 2021, transforming it into the owner and operator of Shoprite stores in Nigeria.
In 2021, Nigerian company Ketron Investment Limited acquired RSNL, the owners of Shoprite Stores across the country.
With approval from the Federal Competition and Consumer Protection Commission (FCCPC), Ketron acquired Shoprite in Nigeria, with plans to expand stores to enhance visibility for both local and international brands.
Recently, Procter & Gamble (P&G), the world’s largest personnel care and household products company, makers of brands like Pampers, Gillette among others announced its plans to transition from local production to solely importing its products as it winds down its on-ground presence in Nigeria.
The American company stressed challenges in conducting business as a dollar-denominated organisation and attributed its strategic decision to the macroeconomic conditions in Nigeria.
A few months ago, a top global pharmaceutical giant, GlaxoSmithKline (GSK) wound down its operation in Nigeria. GSK remains a top global pharmaceutical manufacturer and has had 51 years of operations in Nigeria.