Shoprite has decided to follow the path of Procter & Gamble and other multinationals by announcing that it is stopping operations in its Kano State branch from January 14, 2024.
In a circular released on Thursday, the company blamed its decision on financial difficulties and high production costs faced by business establishments in the country.
The development is coming on the heels of the recent announcement by Jumia Food that it is ceasing operations in Nigeria by the end of this month, citing growing economic challenges.
In the circular, Shoprite noted that the decision, though regrettable, is however necessary, hinting that all the employees working at the mall will be laid off once it ceases operation in the state.
“I regret that our store in Ado Bayero Mall, Kano, will close 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 store’s financial situation and the current business climate, we believe that it is the best cause of action for the long-term growth of our organization.
“We understand that this news may be difficult to digest. We assure you 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 position in our existing store across the country through the Human Resources department,” the circular read.
DAILY POST recalls that barely a week ago, Procter & Gamble, a multinational consumer company, announced plans to exit Nigeria.
Earlier, GlaxoSmithKline Consumer Nigeria Plc also announced its exit from Nigeria.
Reacting to the development, the Manufacturers Association of Nigeria, MAN, hinted that more firms may shut down operations due to harsh economic realities in Nigeria.
By Ogaga Ariemu
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