Reliance Retail plans to close over 100 Reliance Fresh stores selling fresh produce and groceries, as the retail chain is now turning its attention on the country’s wholesale cash-and-carry business, states a leading daily. Currently, it operates some 550 Reliance Fresh stores.
According to the report, the failure of selected outlets in terms of profitability has led to the decision.
Before Reliance Retail, retailers including Spencer’s and Aditya Birla Retail also shut stores in the past owing to multiple factors. In 2012, ABRL closed all of its ‘More’ outlets in Mumbai because of high real estate costs.