Future Group

(ET) : Future Group founder Kishore Biyani said he had no option but to sell his business to Reliance Retail Ventures after the shutdown owing to Covid-19 resulted in a revenue loss of ₹7,000 crore in four months. In his first public comments following the deal with Reliance, he said there’s likely worse to come for retailers. “There was no way we could have survived. The problem is that rent and interest don’t stop", he said.