Page 30 - Big Bazaar News Today

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Future has more than 1,700 outlets, including the popular Big Bazaar chain

© Reuters. FILE PHOTO: A woman shops inside the Big Bazaar retail store in Mumbai, India, November 25, 2020. REUTERS / Niharika Kulkarni / File Photo

Reliance Industries has effectively taken over the operations of Future Retail stores and has offered jobs to its employees, even as the Kishore Biyani-led group is locked in a bitter battle with ecommerce major Amazon at several judicial forums over the sale of its business to the retail arm of the oil-to-telecom conglomerate. Reliance Retail has started to take possession of

Future Retail said it has received termination notices for a significant number of stores due to huge outstanding, and it would no longer have access to such store premises.

The takeover of stores by Reliance signals Futures worsening financial situation

Billionaire Mukesh Ambani’s Reliance Industries Ltd has taken over the operations of at least 200 stores of Future Retail and has offered jobs to its employees after the Kishore Biyani-led group failed to make lease payments to landlords, sources said on Saturday.

New Delhi, Feb 26: Reliance Industries has effectively taken over the operations of Future Retail stores and has offered jobs to its employees, even as the Kishore Biyani-led group is locked in a bitter battle with e-commerce major Amazon at several judicial forums over the sale of its business to the retail arm of the oil-to-telecom conglomerate. Reliance Retail has started to take possession of the premises in which Future Retail is operating its stores such as Big Bazaar and […]

Future Retail pays $14 mn interest on USD notes in grace period

The USD notes had a grace period of 30 days for making the payment of interest, stated a regulatory filing from Future Retail.