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Reliance has prevented about 30,000 employees from losing their jobs by taking over the FUTURE Group’s stores, which have been forced to close.
FUTURE RETAIL, a well-known retail chain, is facing a severe debt crisis. Thus, it was unable to pay rent for its 200 large stores. As a result, stores closed and about 30,000 employees lost their jobs.
Reliance, which has repaid about Rs 1,500 crore to repay its debt, has also acquired 200 stores. This ensures that employees do not lose their jobs.