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Vishal Retail founder ready to quit to save firm

Vishal Retail founder ready to quit to save firm
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First Published: Fri, Feb 05 2010. 11 06 PM IST
Updated: Fri, Feb 05 2010. 11 06 PM IST
New Delhi: Ram Chandra Agarwal, founder and managing director of Vishal Retail Ltd, says he is prepared to step down as the head of the company if that helps the beleaguered retailer.
“I am agreeing to anything that is in the benefit of the company, including stepping down,” he said.
Vishal has been posting losses over the last three quarters amid an economic slowdown that has hit retailers hard.
Agarwal also said he was also prepared to dilute an unspecified stake from his share of 63% in Vishal to pave way for any investor.
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First Published: Fri, Feb 05 2010. 11 06 PM IST