Tag: Shoprite
-
Shoprite announces exit from another African country
South Africa top retail merchant, Shoprite Holdings, has disclosed plans to sell or close its remaining two stores in Kenya by the end of the year. This is coming two years after entering into the retail scene of the East African country. The company announced this on Tuesday, citing that the Kenyan business has continued…
-
$10m debt: Judge declines Shoprite’s application to set aside restraining order
A Federal High Court sitting in Lagos, Southwest Nigeria on Monday refused to hear an application filed to lift an order of injunction restraining South African retail outlet, Shoprite Checkers (PTY) Limited, from transferring its assets. The presiding vacation Judge, Justice Nicholas Oweibo, said that the matter was not urgent enough to be heard during…
-
Shoprite seeks vacation of court order stopping its exit from Nigeria
The South African retail company, Shoprite Checkers (PTY) Ltd, on Tuesday filed an application seeking to discharge a mareva injunction stopping it from transferring its asset. Mareva injunction is a court order freezing a debtor’s assets to prevent them being taken abroad On July 14, Justice Mohammed Liman of the Federal High Court, Lagos, made…
-
Court halts transfer, sale of Shoprite’s assets over pending $10m judgement
The Federal High Court in Lagos has made an order stopping Shoprite Checkers (PTY) Limited from disposing of or transferring its assets out of jurisdiction or to a third party over a $10 million judgment sum. TheNewsGuru.com, TNG reports that Shoprite had two weeks ago announced its intention to exit Nigeria. However Justice Mohammed Liman…
-
Meet Nigerian, Tayo Amusan who’s leading take over bid of Shoprite
Following the announcement made by South Africa retail giant, Shoprite, about the commencement of a formal process to discontinue its operation in Nigeria, Persianas Nigeria Limited, a property development company, owned by a Nigerian Tayo Amusan, who is said to be the most favoured among others who are leading the talks on the acquisition bid…
-
EXCLUSIVE: Real reasons Shoprite is calling it quits in Nigeria after 15 years
…as local investors queue up …the court judgement that nailed Shoprite’s impending exit from Nigeria …’We are expanding and going fully Nigerian’ …Nigerians react More information has emerged on why South African supermarket chain, Shoprite Holdings Limited maybe calling it quits in Nigeria after dominating the retail sector for 15 years. Recall that the South…
-
Retail giant, Shoprite announces decision to leave Nigeria
Retail giant Shoprite has declared it is leaving Nigeria 15 years after it began operation in Africa’s most populous country. In a statement on Monday, the Cape Town-based retailer said it has begun a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria. …
-
Man docked for allegedly stealing 2 boxers from ShopRite
A 32-year-old man, Olayinka Adeyemi, who allegedly stole two male boxers’ valued N1,500 from the Alausa branch of ShopRite Supermarkets, on Friday appeared at an Ikeja Chief Magistrates’ Court. The defendant, also a cleaner, of No.12, Unity Road, Aboru near Ipaja, Lagos State , is being tried for conspiracy, stealing and unlawful possession of…
-
Xenophobia: Calm returns to Shoprite mall Festac
Calm appeared to return to Shoprite Mall in Festac following five days of business inactivity in the shopping mall as a result of reprisal attacks foiled by operatives of Nigerian Police Force last Wednesday. Our correspondent who visited the mall observed that many of the outlets opened for business. The South African owned PEP…
-
DSTV, Shoprite resume business
Business activities have resumed at various firms owned by South African nationals in Lagos. Our correspondents who went to Lekki, Surulere, observed that many of the outlets opened for business. At the Shoprite centre in Lekki, It was observed that business activities went on unhindered as it did, before the reprisal attacks. PEP at Ogba…