Retail Supermarkets Nigeria Limited, the owner of Novare Wuse Central Mall, popularly known as ShopRite, has announced its decision to close operations in Abuja effective June 30, 2024. This decision was made after evaluating the current financial conditions and business climate in Nigeria.
According to Dr. Folakemi Fadahunsi, the Chief Executive Officer, the closure is a strategic move to ensure the long-term growth of the organization. The company will no longer require services from its contractors and will terminate all existing service contracts.
In a statement, the company assured that it will review its accounting records over the next 60 days to confirm any outstanding balances and discuss a suitable payment schedule with affected parties.
This development follows a trend of companies leaving Nigeria due to economic concerns and a challenging business climate. ShopRite’s closure marks a significant departure from the Abuja retail landscape, leaving customers and stakeholders seeking alternative options.