ANALYSIS:; Shopprite: Mngt. Says Stores Are Znot Closing, But Is This True? (Business)

 

    ShopRite logo.     (Courtesy, Google)

he management of ShopRite has denied reports that it is closing malls around the country because of low patronage amidst crushing inflation..

According to Bunmi Adeleye, Chief Strategy Officer at Retail Supermarkets Nigeria Limited, the new owners of the Shoprite franchise, the  organization is simply going through a restructuring program aimed at strengthening operations rather than exiting the Nigerian market. 

South African retailer ShopRite Holdings Limited entered Nigerian market in 2005.. Later, it exited Nigeria and Retail Supermarkets Nigeria Limited after bought out  the supermarket chain.. Currently, it operates 23 malls around 23 Nigerian states. 

Adeleye dismissed the rumours that it is closing shop to "disgruntled ex employees" or competitors. 

Infact, she said the company will open two new malls at Circle Mall and The Palms. 

There's a confusion here. The Palms? Which one? The Palms is the flagship mall at Lekki, and that's the location where ShopRite launched its operations in Lagos, even Nigeria.

 

Now, when company executives talk about "disgruntled employees", it's a red flag. You admit they are your employees or past employees, if they are working for you why are they disgruntled? No employee gets disgruntled for no reason, company's policies or corporate culture makes him or her gets unhappy. 

Definitely, some stores were closed and staff  laid off probably with warning and minus adequate compensation. That would sure for one heck of a "disgruntled employees" who would definitely get their own pound of flesh by spreading this damaging info on ubiquitous social media. They know it will damage the company's reputation.

This is not an approval rating of such conduct. But, it is walking backwards from the spin to know that there is fire somewhere causing this smoke all over regarding this news.