According to the 'Indian Retail: Time to change lanes' report by global consultancy KPMG, the ongoing recession has taken a major toll on the dissemination of India's organized retail - with the country's retail sales growth falling drastically to 11 percent in December 2008 from the 2007 figures of 34 percent.
Subhiksha Trading Services may face strict actions from the Employee Provident Fund Office (EPFO) as the firm failed to pay provident fund dues within the given 15 day deadline.
The EPFO threatened to attach the personal bank accounts of Subhiksha MD, R Subramanian and properties of the retail chain to recover dues worth Rs 1.76 crore.
Meanwhile, company's MD has expressed his desire to pay the dues against laws and the PF Commissioner may take further decision regarding it in few days.
Subhiksha Trading Services has been caught in yet another controversy with property owners planning to drag the retailer in court on the issue of non-payment of rents. The firm is already facing tough situation due to decline in demand under the impact of global slowdown and employee's wrath due to unpaid salaries and other legal issues related to provident fund.
Apparel and accessories player Cantabil International is preparing to set up 280 outlets of its 'Cantabil' and 'Lafanso' brands across the country by March 2010.
The newly planned stores would be spread across metros, tier-I and tier-II cities and each store would be of 500-6,000 square ft in area. Out of total proposed stores, 80 would be Cantabil (premium segment) and 130 would be Lafanso (discount segment).
Home Solutions Retail (India), a subsidiary of BSE-listed Pantaloon Retail (India), has informed that the firm along with its two investors has successfully raised Rs
150-crore via a rights issue to fuel its expansion programme.
The company has been able to successfully raise Rs 150-crore through a rights issue, which was closed yesterday. The company confirms that it has raised the amount along with ICICI Ventures Funds Management and Kotak SEAF India Fund.
Diversified retail player, Vishal Retail has denied a newspaper report, which stated that it will close down about one third of its 172 retail outlets and downsize its staff across the country due to slowing sales.
The company official stated that it has not issued any such statement in the press, and all reports related to the matter are totally false.
It may be noted that the company has closed its two stores in last week.
According to the 'Indian Retail: Time to change lanes' report by global consultancy KPMG, the ongoing recession has taken a major toll on the dissemination of India's organized retail - with the country's retail sales growth falling drastically to 11 percent in December 2008 from the 2007 figures of 34 percent.
Subhiksha Trading Services may face strict actions from the Employee Provident Fund Office (EPFO) as the firm failed to pay provident fund dues within the given 15 day deadline. 
Subhiksha Trading Services has been caught in yet another controversy with property owners planning to drag the retailer in court on the issue of non-payment of rents. The firm is already facing tough situation due to decline in demand under the impact of global slowdown and employee's wrath due to unpaid salaries and other legal issues related to provident fund.
Apparel and accessories player Cantabil International is preparing to set up 280 outlets of its 'Cantabil' and 'Lafanso' brands across the country by March 2010. 
Diversified retail player, Vishal Retail has denied a newspaper report, which stated that it will close down about one third of its 172 retail outlets and downsize its staff across the country due to slowing sales.
