South Africa’s retail giant, Shoprite, has announced closure of its The Waterfront, Karen outlet, citing the business as no longer viable.
In relation to this, all 104 employees at the branch have been declared redundant, with their contracts of employment terminated with effect from 20th May 2020.
“It should be noted that the branch will cease trading operations on a sooner date but this will not prejudice you as you will continue to tender your services at same branch until termination date,” reads, in part, a letter addressed to the Kenya Union of Commercial Food and Allied Workers (KUCFAW).
In 2019, the retail giant closed the financial year with a KSh79 billion debt, including an 84 Million rands (KSh571) million loan from Stanbic Bank meant for expansion in Kenya.
With the closure, Shoprite will only be left with three outlets; Garden City Mall, Westgate Mall, and Mombasa’s City Mall.
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