Promoters of Varkeys Supermarket open to sell 35% stake

According to this report in Times of India, promoters of Varkeys Supermarket are open to sell 35% to stay afloat. They are primarily looking at Private Equity [PE] for the immediate fund infusion and to consolidate business.

Nothing much has changed since the earlier post on this blog. It has been more than 5 months since they reported to be looking for fund infusion. Executive director seems not being open to a buy out from another chain. It is probably a brave decision, which only time can tell.

Every one in Kerala seems to be waiting for their revival. Shopping experience has not been the same here since the 84 year old brand went 'out-of-stock'.

Comments

  1. AnonymousJanuary 25, 2011 at 5:42 AM

    very true i guess first time kerala people are united in their thoughts

    we all want Varkeys back

    ReplyDelete
  2. AnonymousJune 7, 2011 at 6:56 PM

    it will be back soon......our country must grow then our private companies must grow......

    ReplyDelete
  3. AnonymousJune 16, 2011 at 2:26 PM

    Only evil can say that they have not contributed to customers.I also hope they come back.They were so customer friendly and staff also were so helpful and genuine.

    ReplyDelete
  4. shijuOctober 20, 2011 at 5:56 PM

    Varkeys has alrady lost out on the last log lying in its corner. Now it is only a matter of time when this giant supermarket chain becomes a chapter in history and to surface only as case studies in IIM kozhikode and othe premier institutes teaching turnaround management and the issues in mis-management.

    ReplyDelete

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