Page 64 - Future Group News Today

Reliance takes control of Future Retail stores, offers jobs to employees

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.

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

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.

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.

Future Retail is scaling down its operations which will help reduce losses in the coming months.

Future Retail is scaling down its operations which will help reduce losses in the coming months.The company is proposing to expand its online and home delivery business to increase its reach to the customers.Future Retail said in a regulatory ...

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 […]

Samara Capital, a local partner of Amazon India, is planning to raise as much as $500 Mn for a new fund targeting companies in India.