Spencer's closes down seven outlets

RANCHI: After Reliance Fresh closed two of its outlets, another retail giant Spencer's of the RPG Group, has closed down four of the seven outlets in Jharkhand.

After Reliance Fresh closed two of its outlets, another retail giant Spencer's of the RPG Group, has closed down four of the seven outlets in Jharkhand.

Spencer's has decided to shut down all the four retail outlets in the state capital Ranchi, while it is "evaluating" the viability of three outlets at Jamshedpur, said a company official. The company had started its operations in Jharkhand in May last year.

There were four stores in Ranchi, in Doranda, Bariatu, Lalpur and Ashok Nagar. These stores offered a wide range and assortment of fresh fruits, vegetables, fish and meat, consumer goods, household items, staples and grocery, electrical items, chilled and frozen food, including a broad range of imported brands. Products catering to the local taste and preferences and ���Home Meal Replacement��� counters like R.Ali & Sons, Palas restaurant and many more were also available at the store for the shoppers.

According to the company official, the company was forced to close down these outlets as they were not viable. "We realised that Jharkhand does not have the potential in the retail sector and therefore we decided to down shutters. Though, we have not taken any decision on the three outlets in Jamshedpur, we are evaluating their performances," he said.

The company while launching its outlets in Jharkhand, had planned to open about 20 stores in cities like Jamshedpur, Dhanbad and Bokaro, including a few large format stores.

Interestingly, another retail giant -- Reliance Fresh -- has already closed down two outlets -- one in Upper Bazar, Ranchi and one in Jugsalai, Jamshedpur. While Ranchi had 10 Reliance outlets, Jamshedpur and Dhanbad had seven each. A Reliance Hyper Mart, located on the Kanke Road, is said to be one of the biggest.