Subhiksha – started in 1997 was only 150 stores company till 2006 – and suddenly grew to 1,600 stores by 2008. The rapid expansion brought in revenues, but over-confidence blinded the company and we all know where it stands today …
Recession is hitting the retail industry quite badly and Shubiksha has announced that it has closed 90 stores in the last 1 month. “We were paying huge rentals