Indiabulls store downs its shutters

The global economic slowdown just found another casualty. Indiabulls,the famous anchor store of Ansal Plaza has shut down operations in Ludhiana. With separate floors for men,women and kids wear,the showroom was the biggest store in the mall located on the Ferozepur Road. Over 40 people were employed in the store.

A few suppliers came down on Tuesday to check whether the store had actually downed its shutters. Earlier,when the mall opened in 2006,Pyramid had taken the store as its anchor store but it was later purchased by Indiabulls,who also seem could not do much. According to information,the store was running into losses and hence the owners preferred to close it.

A mega sale was also organised a few days ago and gradually the space on each floor was reduced before the finally closure of the store. Vikram,store manager of Indiabulls,talking to Newsline confirmed the news. He said,”The store was running into losses and hence it has been closed down.”