Diversified retail player Vishal Retail has closed down the operation of two of its stores. The two stores were located at Color Scape Shopping Mall, Mulund, Mumbai and Shyam Nager Scheme, Pal Link Road, Jodhpur, Rajasthan. While the former store occupied a retail space of 30,867 square feet, the latter covered an area of 7,400 square feet.
The shut down of the operations of the stores took place last week, said the listed retailer in a filing to Bombay Stock Exchange.
With the closure of the two stores, the tally of total number of stores of the company has reached 178 stores across India.
Vishal Retail is a value retailer catering primarily to consumers in tier II and III cities. The company’s stores sell ready-made clothes (including private labels), a wide range of household merchandise, footwear, toys, watches, toiletries, grocery items, sports items, crockery, gift and novelties.
— Shailesh Shah