InvestorQ : What is the latest update on the ongoing legal battle between the Future group and Amazon?
Riya Dwivedi made post

What is the latest update on the ongoing legal battle between the Future group and Amazon?

Answer
image
shrinidhi Rajan answered.
2 months ago
Follow

The battlefront has now shifted from the Future-Amazon battle to the aggression at which Reliance is picking up the stores of the Future Retail group. It is just getting more convoluted by the day, although it does look like The Future-Amazon case just gets more convoluted by the day. After Reliance had taken over 200 stores of Future group, it has now slapped notices on Future Retail for the termination of sub-leases of 950 stores.

When Future group had run out of funds, Reliance group had not only taken over the stores of Future group and sub-let it to the Future group, but had also given them liberal credit terms to stock their stores. Now Reliance wants to terminate sub-leases of 835 Future Retail stores and 112 Future Lifestyle stores and take them over fully. This would virtually amount to Reliance absorbing Future group operations. Even as legal implications are being studied, Reliance appears to have taken Round 1.

9 Views