Game Stores which is under South African retail giant Massmart has decided to bow out of business in Uganda. The company to this conclusion after failure to find local investors to buy it.
Last year, this company announced plans to sell their Kampala stores in order to recoup the money before exiting the East African country but this has not yielded any fruits.
“One possible way forward now is to consider closing our Game store in Uganda. We have therefore initiated potential store closure consultations with our staff members in the potentially affected stores,” Neville Hatfield, the Vice President of Game Stores merchandise said.
Meanwhile, he assured employees that they are working out something for them before they officially close.
“Our present focus is to ensure a transparent consultation process with our staff members and their representatives after which we will update you about the agreed next steps. It is difficult to anticipate timing of the consultation process but please be assured that we will revert to you as soon as we have collective clarity on the way forward.”
Game stores has followed Uchumi and ShopRite supermarkets that closed shop in Uganda because they were not realizing profits any more.
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