IndiaRetailBiz

Pantaloon Retail India Limited (PRIL), India’s largest listed multi-product, multi-segment, multi-format retailer, for want of clarity on certain legal issues, has put plan of restructuring its businesses on hold.

“The realignment is not happening right now. There are some legal issues. We are waiting for feedback from our legal team on this,” said Kishore Biyani, founder and CEO, Future Group, while speaking to reporters at Mumbai on 4th August, 2009.

Future group, it may be recalled in April this year, had unveiled a plan that will realign businesses of PRIL into a multi-tiered structure under the new name of Future Merchandise & Consumer Group (FMCG Ltd). PRIL wanted to attract a large amount of foreign capital in mult-brand retail via a web of subsidiary companies as infusion of foreign capital (FDI) for multi-brand retail is currently banned in India. The group is constantly looking for resources to fructify its expansion plans.

Although unsure of how long it would take to achieve the realignment, Future group is sure of its intention to implement the same as soon as feasible.

PRIL, the retail arm of Kishore Biyani-led Future group, opertes several multi format retail chains like Big Bazaar, Pantaloons, Central, Home Town, e-Zone, Ethnicity, among others, across value, lifestyle, and home retail segments.