Reliance Takes Over 200 Future Group Stores: Business Standard

Reliance Industries Ltd. is taking over 200 stores from struggling Future Group and transferring 30,000 workers from the Future Retail and Future Lifestyle operations, Business Standard reported.

Future Group’s financial problems have led landlords to terminate leases, with a number of them contacting Reliance to negotiate new agreements for the 200 outlets, the newspaper said, citing an unidentified person with direct knowledge of the matter. As Future Group reduces its store count, Reliance will rebrand those outlets as its own.