IndiaRetailBiz

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 [...]

Kishore Biyani-led Future group, which for the two years has been tinkering with the idea of entering high growth telecom retailing big time, is expected to buy air time (mobile talk time) in bulk from large telecom service providers and sell the same to customers by offering SIM cards and recharge vouchers, across the country.
While, [...]

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 [...]

Although, Ram Chandra Agrawal-led Vishal Retail, which went public in July 2007, could succeed in bringing down its quarterly losses from Rs 115 crore in Q4 2009 (ending March, 2009) to Rs 90 crore in Q1 2010 (ending June, 2009), it is continuing to struggle hard to come out of the financially difficult situation.
While, the [...]

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, [...]

Vishal Retail, the Delhi-based value-based retailer, which operates around 170 mega-stores, across the country, has begun to succeed in tackling some of its financial problems. These problems, among others, have contributed towards the company recording heavy losses during Q4 (ended 31st March, 2009) of the financial year 2008-09 (Rs 114.73 crore) and Q4 (ended [...]

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 [...]

Hypercity Retail India, which operates a chain of hypermarket format retail stores under ‘HyperCITY’ brand name across India, opened its fourth store in Hyderabad, the capital city of Andhra Pradesh. Apart from Hyderabad, HyperCITY also operates three more outlets at Mumbai (2) and and Jaipur.
The new HyperCITY outlet spread over 100,000 sq ft of trading [...]