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Great Eastern Retail takes over 15 stores of Delhi-based Sargam Electronics

Economic Times  

Kolkata-based consumer electronics retailer Great Eastern Retail has taken charge of 15 stores of Delhi-based retailer Sargam Electronics by settling the rent dues at the locations for over six months, talking on rolls some manpower and paying the cost for the store fixtures. The deal will allow Great Eastern to make a foray into the Delhi-NCR markets. Great Eastern will invest around INR 50 crore on these stores for rent deposits, stocks and other operational expenses. Since Great Eastern has not taken the stock, brand and company, it is free of Sargam Electronics' liabilities which increased during the last two years of Covid-19 pandemic. The average size of the Sargam stores is around 8,000 sq ft and Great Eastern expects to restart the stores in about 15-20 days. Great Eastern at present runs 85 stores in West Bengal, Rajasthan, Uttar Pradesh, Odisha and Andhra Pradesh.