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ABFRL closes retail units till Mar 31, suspends operations

24
Mar '20
Pic: Aditya Birla Fashion & Retail
Pic: Aditya Birla Fashion & Retail
Aditya Birla Fashion and Retail Ltd (ABFRL) recently announced closure of all its retail stores across India till March 31 to ensure safety of employees across all its establishments from the COVID-19 pandemic. The company has also stopped its factory operations in Karnataka, Tamil Nadu and Odisha till March 31 in line with local guidelines.

"In order to safeguard the risks to the health of our store employees & customers, as well as in line with the advisories from local, state and central government, the company has decided to shut all its retail stores until March 31, 2020," ABFRL said in a regulatory filing.

The company had already shifted to ‘work from home’ policy for all its office employees.

"The business of the company has been significantly affected over the last few weeks and will continue to be materially impacted due to the current crisis. The uncertainty around the situation makes it difficult to ascertain the exact impact at this point of time," the company said.

The company also noted that "it will continue to assess the situation and will consider resumption of its business operations at an appropriate time", according to a news agency report.

Fibre2Fashion News Desk (DS)


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