Retail Supermarkets Nigeria Limited, owners of Novare Wuse Central Mall, known as ShopRite in Abuja, has announced plans to close the mall. Dr. Folakemi Fadahunsi, the company’s CEO, stated that this decision was made after evaluating Nigeria’s business climate and financial conditions.
“This decision has been made after a thorough examination of the store’s financial situation and current business climate. We believe this is the best course of action for our organization’s long-term growth,” said Dr. Fadahunsi.
The statement added, “If your services are specifically tied to the Novare Wuse Central Mall store and if there is an outstanding balance between our companies, we will carefully review our accounting records over the next 60 days. We will then promptly contact you to confirm the amount owed and discuss a suitable payment schedule.”
Effective from June 30, the company will cease operations at Wuse, Abuja, and will no longer require services at Novare Mall, Wuse. All existing service contracts will also terminate for the store, the statement further noted.
This closure reflects a broader trend of companies exiting Nigeria due to economic concerns and the challenging business climate.