Emmanuval Silks shuts shop in Kochi

KOCHI: A year-and-a-half ago, Bollywood Badshah Shah Rukh Khan opened the showroom of Emmanuval Silks in the city, dancing to his hit number ‘Chammak chalo’ and for a reported Rs 2-crore fee. The ‘chammak’ it seems didn’t last long as the management closed down the showroom on Monday, citing ‘heavy losses’.
According to sources, the management decided to close the showroom after running up huge bills. The showroom, which opened in December 2011, was the third one of the Thrissur-based retail garment chain. It had planned to open showrooms in other cities too.
The showroom, which spanned over an area of 5lakh sq ft, had around 300 employees. Sources said that over 250 employees were relieved by the management after paying a month’s salary. The remaining 50 employees have been transferred to its Thrissur showroom. Sources said the shop had run up heavy losses over the last year. While the monthly rent of the building was around Rs 60 lakh, the company had to shell out Rs 30 lakh monthly on electricity alone, according to sources.

Meanwhile, the labour department said that it was unaware of the development. “We have not been informed by the management about the closure. The management can relieve employees by giving one month’s salary, if they wish so,” said an official with the labour department.
However, T O Byju, one of the promoters of Emmanuval Silks, denied the closure of Kochi showroom. “We closed down the showroom on Monday for renovation. Our plan is to convert it into a shopping mall to move with the changing times,” said Byju.

[ View Original Article at timesofindia ]

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