Retailers down shutters in Kolkata

High rentals and dropping footfalls are compelling several high end retail stores in Kolkata to down shutters. These are some signs that all is not well with West Bengal – regular political disturbances in the form of work stoppages and sudden road blocks continue to take their tolls. No matter what verdict is thrown up post election 2009, it is obvious that investors are still jittery with the state. Assurances have to be balanced with other parameters to ensure acceptance.

The Adidas lifestyle store on Camac Street is in dire straits because the investment is not translating into profits. Similarly, the Gariahat Mall is changing over to office space instead of retail outlet. In addition, Primus has closed its Adidas, Nike, Levi’s and Reebok factory outlets on VIP Road. To add to the woes, the Adidas store in Mani Square has been temporarily shut, once the high rentals are the reasons. Khadim’s, one more retail store in Bhowanipore is on the verge of closing down.