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The management of the West Hills Mall has debunked reports that the busy shopping centre risks collapse because certain tenants are scheduled to close shops.They acknowledged that the lease terms of five tenants, namely, Foschini, American Swiss, Sportscene, Markham and @Home will expire in October this year. Collectively, the five stores belong to a South Africa-based retailer, The Foschini Group, which is reviewing its business strategy across Africa and has made a decision to pull out of Ghana and not just West Hills Mall.Management explained that The Foschini Group will, therefore not be renewing its lease agreements upon their expiry. “It is worthy of note that quite a number of South African fashion retailers are under pressure in their local trading environments and have begun consolidating their business operations. It is not surprising that most of these are looking to exit various marginal markets outside South Africa,” a Management statement said, Wednesday.
“For West Hills Mall, this development, unfortunate as it may be, has offered an opportunity to introduce a new and exciting mix of local and international tenants to serve our customers,” it added.Management says it will continue to review its strategies on an ongoing basis to replace vacancies that emerge in the course of business, with brands which resonate with Ghanaians and meet demands of the local market.“It is important to note that the nature of the retail business is such that occasional vacancies are inevitable in the retail industry and that whenever such vacancies occur, Management continuously reviews strategies to replace them accordingly,” it said. Interestingly, West Hills Mall celebrates its fifth milestone in Ghana’s retail market and a series of exciting activities have been planned for the pleasure of customers, tenants and all patrons.“Management emphatically rejects this claim as an unfortunate misrepresentation of the facts and would like to assure its tenants and customers that plans are far advanced in negotiations with new and exciting replacement tenants who are expected to open in time for the Christmas festivities,”
“For West Hills Mall, this development, unfortunate as it may be, has offered an opportunity to introduce a new and exciting mix of local and international tenants to serve our customers,” it added.Management says it will continue to review its strategies on an ongoing basis to replace vacancies that emerge in the course of business, with brands which resonate with Ghanaians and meet demands of the local market.“It is important to note that the nature of the retail business is such that occasional vacancies are inevitable in the retail industry and that whenever such vacancies occur, Management continuously reviews strategies to replace them accordingly,” it said. Interestingly, West Hills Mall celebrates its fifth milestone in Ghana’s retail market and a series of exciting activities have been planned for the pleasure of customers, tenants and all patrons.“Management emphatically rejects this claim as an unfortunate misrepresentation of the facts and would like to assure its tenants and customers that plans are far advanced in negotiations with new and exciting replacement tenants who are expected to open in time for the Christmas festivities,”
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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