Reliance Retail's shutting down Centro outlets temporarily
Reliance Retail is temporarily shutting down stores in its department chain Centro to reposition the format with mostly its own brands and labels it has launched in India as a licensee partner.
In September 2022, the retail division of Reliance Industries had converted Future Group's Central into Centro in locations where it had taken over the lease after the Future Group surrendered the property to it.
Reliance Retail has shut three stores and will shut another two dozen doors by the end of the month, according to executives of companies which have been asked by the country's biggest retailer to take back their inventory and fixtures citing renovation and repositioning of the format.
«RRL (Reliance Retail) has decided to temporarily pause operations of all its Centro outlets across the country as part of the remodelling process,» it said in a letter to the brands, a copy of which was seen by ET. «Display, storage, and sale of the merchandise shall be paused at the outlets. In view of the imminent hiatus of operation of the outlets, you are hereby required to arrange for the removal of all goods, merchandise, stocks, promotional materials, or any other items belonging to you which are at present, deployed at the outlets.»
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