Retail Supermarket Nigeria Limited, operating as Shoprite Nigeria, has officially announced the closure of its Ado Bayero Store in Kano. 

The decision, attributed to factors such as consumer buying power, the high cost of doing business, rental expenses, and negative financial performance, was communicated in a statement by the Chief Executive Officer, Hubertus Rick, on Tuesday.

While the Kano store ceased operations on January 14, Rick emphasized that Shoprite Nigeria maintains a bullish growth plan for the Nigerian market, spanning two to five years. 

Despite the closure of underperforming stores in response to tightening consumer economies, the retail chain plans to open four new outlets annually across the country, guided by retail market research.

Rick noted, “Aside from planned store closures, Retail Supermarkets Nigeria Limited has also initiated store reopenings across different locations throughout 2023 into 2024. Shoprite has demonstrated the resilience of its brand by successfully restoring its store at Circle Mall, Lekki, which was completely razed during the EndSARs protests in October 2020.”

Highlighting the gravity of the decision, Rick acknowledged the potential impact on employees and the community. 

He reassured the readiness of the company to resume operations in Kano when the business environment becomes favorable, considering the city’s significant potential for the Shoprite concept.

Rick also addressed affected employees, assuring them of the company’s support during the transition. 

He stated, “We understand that this news may be difficult to digest, and we want to assure you that we are here to support you during this transition period. Your well-being is our top priority, and we will do everything we can to assist you in finding new opportunities within our company.”

Encouraging affected employees to explore vacant positions in existing stores nationwide and anticipating new store openings, Rick emphasized the company’s commitment to facilitating a smooth transition for its workforce.