Learned business by selling sarees with grandfather and built a business empire worth crores, now the company is in debt crisis.

New Delhi. Kishore Biyani, chief of Future Group, once known as the retail king of the country, has continuously taken loans in the last several years. Due to which Future Retail has been unable to repay the loan interest of Rs 105 crore, the risk of default of this company has increased. As on September 30, 2019, the debt of the listed companies of Future Group had increased to Rs 12,778 crore, which was Rs 10,951 crore on March 31, 2019. Biyani only had a deadline of March to make some dues payments, but the Reserve Bank of India ban gave some relief to the Future Group. In the middle of February 2020, there was talk in the market about Biyani’s inability to repay the loan, after which the company’s shares started falling rapidly. After this, the lenders started demanding more shares from Biyani in exchange for the loan.

Company in debt due to Corona crisis
Meanwhile, on one hand the Corona crisis gave the company some time to repay the loan, on the other hand the business was badly affected and all the stores of the company had to be closed. The increasing shortage of cash forced the company to default on the loan.

Know how Biyani got success in his business
In the business in which retail king Kishore Biyani is engaged, big business houses of the country have failed, whereas Biyani has created a big empire.

Sometimes sold sarees with grandfather: Kishore Biyani was born in a middle class family in Rajasthan. His grandfather had once come to Mumbai from Rajasthan to do the business of dhoti and sarees. At the age of just 22, Kishore started making trousers from Mumbai, which became successful. His company Pantaloon is doing business all over the world.

Company left: As soon as he turned 22, his family married him to Sangeeta of the Rathi family. Started the work of trousers, it worked. By 1987 the new company Men’s Wear Pvt. Ltd. Started. In this, clothes were sold in the name of pantaloon. This name was chosen because it was close to the Urdu word pantaloon. It was sold only at selected shops. Started Pantaloon Shop in Goa in 1991 and established the brand in 1992 by raising money from the stock market. Since then it has been continuously increasing.

Passion for doing new things from the beginning: 4- At the age of 15, Kishore Biyani started going to Century Bazaar in Mumbai. Was not very good in studies. He worked with his father and two cousins, but Kishore did not like their approach to work. Then he set up his own mill and started selling stonewash. They used to sell it in small shops in Mumbai. At that time his store was not even included in the trade body.

Tags: Retail company, Retail segment

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