InvestorQ : What are the next steps that Future group plans after the Reliance takeover of stores?
Chandralekha Desai made post

What are the next steps that Future group plans after the Reliance takeover of stores?

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NISHA Nayak answered.
2 months ago
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Future Retail has committed to taking back its stores which were seized by rival Reliance, although the claim does sound quote naïve and puerile. Reliance had started assuming control of Future group stores since late February after the Future group had failed to pay its lease rental son time. The stores had been leased by Reliance and had been sub-let to the future group. When sub-lease was not paid, it was automatically take over.

This adds a new twist to the Amazon case with Amazon claiming that it had legal injunctions in place prohibiting such store transfers. Apparently, even Future group management was also kept in the dark about this move. That still leaves the banks in limbo.

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