Shoprite Nigeria plans neighbourhood stores after reopening three

Shoprite Nigeria plans to expand through standalone neighbourhood stores after reopening three outlets following a temporary shutdown, MBO Capital executive Adekunle Adebiyi said. The investor described the expansion as part of efforts to revive the retailer’s operations after financial and operational pressures prompted a restructuring. Adebiyi, executive director of investments at MBO Capital Management, said Shoprite Nigeria temporarily closed its operations while negotiating with suppliers and addressing outstanding obligations. He said three stores have since reopened. He did not specify how many neighbourhood outlets are planned, where they would be located or when they would open. The proposed format would shift the retailer toward smaller stores in residential areas rather than relying primarily on large shopping malls. Adebiyi said the approach was intended to focus investment on supermarket operations instead of property development. Supermarkets typically lease their premises and spend on equipment such as shelving and refrigeration, he said. That model can make borrowing difficult in Nigeria, Adebiyi said, because banks often seek physical assets as loan...