IndiaRetailBiz

The contours of financial package for stabilising operations of financially stressed value retailer Vishal Retail have begun emerging. The Delhi-based retailer owes around Rs 730 crore to a consortium of around 13 banks. Of these 13-odd banks, Vishal owes an amount of about Rs 170 crore, or nearly one fourth of the total, to State [...]

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 [...]

Shrinkage, defined as the percentage of loss of inventory between manufacture and point of sale, is one of the major challenges facing the retail sector. Shrinkage occurs due to variety of reasons including shoplifting, employee theft, administrative errors and supplier fraud. The theft by employees, however, accounts for bulk of the loss (45 to 50 [...]

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 Akalis (Badals) ruled state government of Punjab has terminated “memorandum of understanding” (MOU) for setting up agricultural mega projects in the state with Reliance Retail. The agreement was signed three years ago during the erstwhile congress government of Capt Amrinder Singh
The MOU with the state government was an important part of ‘farm to fork’ [...]

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 [...]