IndiaRetailBiz

Vishal Retail, financially stressed Delhi-based multi-products retailer which for months has been forced to put expansion on hold, has bought peace with its institutional lenders by signing a deal to kickstart the process of restructuring debt.
The deal has been inked with lending banks like with SBI, HDFC and HSBC to whom the retailer owes major [...]

Subhiksha, the financially stressed discount retailer, whose 1,600-odd convenience stores have been forced suspended their business operations for want of cash, since January, 2009, opened four of its stores in Chennai during Diwali to sell crackers.
Subhiksha’s used its time tested brand mantra of “low cost” to lure customers to its shops. Many customers, who lined [...]

Vishal Retail, Delhi-based retailer in the segment, which was once a darling of equity markets in India, is likely to soon go “Subhiksha” way by commencing the process of Corporate Debt Restructuring (CDR).
Delhi-based, R. C. Agarwal-led, value retailer, has for quite sometimes been finding it hard to meet the challenges of falling footfalls, which on [...]

Subhiksha Trading Services Ltd.– an R Subramanian promoted, Chennai-based, grocery retailer, which for want of cash was forced to close pan-India operations of  its 1,600-odd stores discount retail chain this January, is trying its luck again to revive its operations by seeking a compromise with its creditors.
“Cash & Carry Trading (P) Ltd” –another company [...]

The Madras High Court, on Friday the 28th, dismissed a scheme of arrangement filed for revival of Chennai-based food & grocery discount retail chain Subhiksha. The scheme was filed by N Srinivasan of Cash and Carry Wholesale Traders Private Limited. Srinivasan is a director of the subsidiary company of Subhiksha Trading Services.
In another blow of [...]

The last-ditch attempt of cash starved Chennai-based discount food, grocery, and telecom retailer Subhiksha to revive operations of its value retail chain appears to be becoming more and more difficult with every passing day. According to reports, counsel of its main lender ICICI Bank has told the Madras High Court, where many legal cases against [...]

Despite deducting Income Tax at Source (TDS) from employees’ salaries for six months last year, Chennai-based value retailer Subhiksha Trading services, according to an ET report, has failed to deposit the same with the concerned authorities of the central government.
The position in this regard became clear when employees of the company despite followup could not [...]

Chennai-based value retailer Subhiksha Trading Services, which has suspended operations of 1,600-odd stores of its retail chain operated under the brand name of ‘Subhiksha’ owes nearly Rs 1,000 crore. This information, according to a BS report, was submitted in latest filings by the company’s lead lender ICICI Bank in the Madras High Court.
The ICICI Bank, [...]

Cash and Carry Wholesale, a shareholder of Subhiksha, has  filed a court petition under Section 391 of the Companies Act, that seeks to arrive at a compromise between Chennai-based cash starved retailer company and its creditors.
“We have been informed and notified that Cash and Carry Wholesale Traders Pvt Ltd, the promoter of Blue Green [...]

Chennai-based Subhiksha Trading Services, which until January this year operated India’s largest food and grocery discount retail chain across the country, has failed to get lenders’ nod for financial bailout within stipulated time. The deadline for sanction of financial package under CDR (corporate debt restructuring) process of RBI ended on the 31st July, 2009.
The cash [...]