This question has been roaming around me for a long time. Is Big Bazaar closed permanently in India? Today will share the complete details around this topic & explore further more about why Big Bazaar is closed. When Big Bazaar will reopen in your city.
Yes, Big Bazaar is closed in India.
Let,s explore more about this.
As per the report, in February 2022 reliance industries took over the possession of the property which they owned from Big Bazaar stores. Furthermore, they have Shut down the Big Bazaar stores & now Smart Bazaar stores are open at the same locations.
Why Big Bazaar is Closed?
Due to financial crisis & loan repayment, Future Group was not able to operate the stores. As the losses widen & due to financial crunch they have to close the Big Bazaar stores.
Future Group stores had lease deeds with Reliance Retails & most of the store’s rent payments were done by Reliance Retails.
Big Bazaar stores have not been able to pay the rent to Reliance Retail, so Reliance has shut down the stores in Feb 2022.
What is Big Bazaar Closed Date?
Well, most of the stores were closed by 25th February 2022 in India. Reliance started the process of shutting down the big bazaar stores on 23 February 2022 & by 25 February 2022, all the stores in India were shut down.
Is Big Bazaar Closed Permanently in India?
Well, as per the current situation, all the Future group’s retail stores including; Big Bazaar, Fbb, Easy Day, Central, Brand Factory & other retail formats stores are closed.
The Future Group’s case is heard by the NCLT team.
As of now, it seems Big Bazaar is closed permanently in India.
Is Reliance Taking over Big Bazaar?
Reliance has taken over the position of more than 260 Big Bazaar stores across 120 cities in February 2022.
Earlier Reliance Retail announced the acquisition of Future Retail stores, but this was not completed.
Now Reliance Retail has set up its own new retail format stores in India.
Who Replaced Big Bazaar?
Reliance Smart Bazaar has replaced the Big Bazaar Stores in India.
After taking over the Big Bazaar stores, Reliance has started rebranding the retail stores of Big Bazaar & named the new brand Smart Bazaar.
Now more than 300 Smart Bazaar stores are serving the customers from the same location where Big Bazaar used to.
Why Big Bazaar is Closed Today?
Big Bazaar is closed today because all the retail stores have been closed since February 2022 in India.
Despite Bigbazaar showrooms being closed, Smart Bazaare Reliance stores are functioning in that location, you can do shopping from the Reliance Smart Bazaar stores.
What is the New Name of Big Bazaar?
Reliance’s “Smart Bazaar” is the new store operated by Reliance Retail Ltd. on the location of big bazaar stores in India.
These Smart Bazaar stores follow the similar retail format of Big Bazaar in India.
Is Reliance Big Bazaar deal Cancelled?
Yes, since Reliance announced the deal with Big Bazaar in Rs/-25,000 core, the lenders rejected the deal & it couldn’t be successful.