Court Shutdown Shoprite In Umuahia Over Loan Default

Shoprite in Umuahia has been shutdown over unpaid loans.

Court Shutdown Shoprite In Umuahia Over Loan Default
Shoprite

Popular shopping mall in Umuahia, Shoprite, has been sealed by federal high court in the state, Abia.

It was gathered that the gates were locked and customers, who had come for shopping, wore long faces because they couldn’t make their planned purchases.

A notice on the front security room read, “Possession taken by receiver manager of Ecobank over Abia Retail Co Limited by order of court dated 17/12/19, FHC/L/LC/19”

It was learnt that the development was in accordance with an existing court order/directives. 

 

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Management of Shoprite is said to have defaulted on a loan it took with the affected shopping mall. 

However, the development was confirmed by a staff, who pleaded anonymity. 

“Yes, it's true... the building has been sealed. It was sealed earlier today. That's all I can tell you for now”, the staff said.