In its strategy to cut losses in the capital region, Spencer’s Retail is closing its stores in the Delhi-NCR area. The BSE-listed retailer, which currently runs 18 stores across Delhi, Gurugram, and Noida —comprising large supermarkets of 25,000 sq.ft. and smaller neighborhood outlets of about 3,000 sq.ft.— will shut down all these locations.
Apart from exiting the Delhi-NCR region, Spencer’s Retail is also withdrawing from Andhra Pradesh and Telangana, where it operates mainly in Hyderabad and the coastal regions of Andhra Pradesh. This move follows the company’s previous exit from Tamil Nadu and Kerala last year.
With these closures, Spencer’s Retail will now concentrate its efforts on Eastern Uttar Pradesh and its home market of West Bengal. The company is part of the Kolkata-based RP-Sanjiv Goenka Group, a diversified conglomerate involved in sectors such as power, chemicals, media and entertainment, and sports, and also owns the Indian Premier League (IPL) franchise for Lucknow.
