Retail Supermarkets Nigeria Limited, owners of the Novare Wuse Central Mall, also known as ShopRite, has announced plans to close the mall.
This decision was revealed by Dr. Folakemi Fadahunsi, the company’s Chief Executive Officer.
In her statement, Dr. Fadahunsi explained that the closure follows a comprehensive evaluation of the Nigerian business climate and the financial conditions affecting the store.
“This decision has been made after thorough examination of the store’s financial situation and current business climate. We believe this is the best course of action for our organisation’s long-term growth,” she said.
Dr. Fadahunsi noted that all existing service contracts tied to the Novare Wuse Central Mall store will also terminate on this date.
She assured vendors and partners that any outstanding balances between their companies and ShopRite will be reviewed over the next 60 days, with efforts made to confirm amounts owed and discuss suitable payment schedules.
The closure of ShopRite’s Wuse store is part of a broader trend of companies exiting Nigeria, citing economic challenges and a difficult business environment.
