|
| Exchange Disseminated Time | Vishal Retail Ltd has informed BSE regading Clarification on news article published in Newspaper on February 06, 2009.
"Currently we are running 180 stores across the country and during the financial year 2007-08, we opened 84 stores and have closed only 4 stores due to close proximity with existing stores, which were situated at Mulund (Maharashtra), Kharghar (Maharashra), Jodhpur (Rajasthan) and Dhanbad (Jharkhand).
We are negotiating with our landlords for reducing rentals of existing locations, which are economically unviable or having expensive rentals. We have already negotiated with landlords of our 40 (forty) existing stores to reduce the rental costs. We don't have any intention to close our existing stores. There is no proposal at the management level to close down 17 of our stores in the West Zone.
Further, we are in process of merging our regional warehouses with Central warehouse(s) located in Delhi & NCR to strengthen our Logistics & Distribution Management systems." |
|
|