Reliance takes over operations of 200 Future Group's stores

Reliance Industries is in the process of transferring 30,000 Future Group employees to its staffing and manpower firm

future retail, future group, big bazaar, bazar

Sharleen D'SouzaAbhijit Lele Mumbai
Reliance Industries is in the process of transferring over 30,000 Future Retail and Future Lifestyle employees and has also taken over 200 Future Group stores that are now being re-branded as Reliance stores, according to a source in the know.

The source said that in 2020 landlords had begun to terminate the lease agreements with Future Group and several landlords approached Reliance Industries and the lease for those stores were signed with the Mukesh Ambani-run company and were then sub-leased to Future Group. The debt-ridden retail chain has over 1,700 stores across various brands, which include Big Bazaar, fbb, and Central.

In a stock exchange filing, Future Retail said that it received termination notices for significant number of stores due

First Published: Feb 26 2022 | 8:47 PM IST

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