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Together, India’s modern retailers have closed more stores than they have opened over the past year.story continues below>
Firms such as Pantaloon Retail (India) Ltd, Reliance Retail Ltd, Spencer’s Retail Ltd, Aditya Birla Retail Ltd, and Subhiksha Trading Services Ltd have closed hundreds of outlets.
Mint research shows that the sector has seen the closure of at least 2,000 stores in the last 12 to 18 months. Subhiksha accounted for a major portion of this number—it closed all of its 1,600 stores.
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