Logo


Carrefour freezes big city store plans

Move comes barely 6 months after dozen realty deals for new stores finalised worsening global economy a reason

Carrefour, the world’s largest retailer after Walmart, is learnt to be rationalising its expansion plans in India, prompted by a worsening global economy, particularly in Europe. Pune was a major destination the France-based chain was looking at for its cash and carry (wholesale) operations, but that’s now on the backburner, according to two sources. Some of the other store openings it had planned in the country for 2012 might also get delayed, they said. The retailer was busy finalising 10 to 12 real estate lease deals across India around the end of 2011 for its new stores. ...