What happened to Subhiksha?
Subhiksha was an Indian retail chain with 1600 outlets selling groceries, fruits, vegetables, medicines and mobile phones. It began operations in 1997, and was closed down in 2009 owing to financial mismanagement and a severe cash crunch.
Why Subhiksha failed?
Subhiksha failed because it expanded fast with thin or zero margins. There was a mismatch between cash outflow and inflow. Its debt mounted to Rs 750 crore and in October 2008, the company ran out of funds. Its turnover grew from Rs 330 crore in 2005-06 to Rs 833 crore in 2006-07, and then to Rs 2,305 crore in 2007-08.
How can Subhiksha recover?
Subramanian is now banking on the much-delayed corporate debt restructuring (CDR) process (involving 13 banks with cumulative exposure of over Rs 800 crore) to bring Subhiksha back to life.
What is the reason behind closing the famous Subiksha store?
One reason for shutting stores is that Subhiksha wishes to lower its rent bill. ���We are in the process of relocating 8-10% of our stores nationally to take advantage of falling rentals across the country, specifically in key metro cities.
What is the meaning of subhiksha?
Name Subhiksha generally means Prosperous, is of Indian origin, Name Subhiksha is a Feminine (or Girl) name. Person with name Subhiksha are mainly Hindu by religion.
Who were the competitions of subhiksha?
Below are the top 4 competitors of Subhiksha:
- Reliance Retail.
- RPG group.
- Future Group.
- Star Bazaar. This article has been researched & authored by the Content & Research Team.
What is the meaning of the name subhiksha?
Is Prosperity an adjective?
What does prosperous mean? Prosperous means successful, especially in a financial or material way. The word prospering can be used as an adjective to mean the same thing as prosperous. The related noun prosperity refers to a state of success.
What does prosperity mean in the Bible?
Prosperity theology (sometimes referred to as the prosperity gospel, the health and wealth gospel, the gospel of success, or seed faith) is a religious belief among some Protestant Christians that financial blessing and physical well-being are always the will of God for them, and that faith, positive speech, and …
What is the verb for prosperity?
The verb prosper means to achieve prosperity. Someone who achieves prosperity can be described as prosperous. The word prosperity is often paired with words like peace and wealth, such as when wishing people well, as in May your year be full of peace and prosperity.
Is it wrong to pray for prosperity?
Praying for prosperity to achieve financial security and ability to help others is appropriate; praying to amass personal riches for a luxurious lifestyle is not. When a greedy person becomes wealthy, it’s not because God answered his or her prayers.
Who is the owner of Subhiksha retail chain?
Subhiksha was an Indian retail chain with 1600 outlets selling groceries, fruits, vegetables, medicines and mobile phones. It began operations in 1997, and was closed down in 2009 owing to financial mismanagement and a severe cash crunch. Owned by R Subramanian, The company formerly known as Viswapriya Financial Services and Securities Limited.
How many Subhiksha outlets are there in India?
Subhiksha had outlets in Gujarat, Delhi, Mumbai, Andhra Pradesh and Karnataka. By October 2008, the company had emerged a major player with 1,600 outlets, selling groceries, fruit, vegetables, medicines and mobile phones. On 11 February 2009, Subhiksha announced that it would shut down all of its 1,600 outlets by May 2009.
What is the mission of Subhiksha in India?
Mission “To deliver consistently better value to Indian consumers , as guided Subhiksha to deliver savings to all consumers on each & every item that they need in their daily lives, 365 days a year without any compromise on the quality of goods purchased.”
What does Franchising.com do for grocery stores?
Backed by Franchise Update Media Group, Franchising.com helps match franchise-seekers with grocery store businesses, or any of the many other franchise business opportunities available, by providing accurate, reliable information and franchise directory listings.