Shoe Town exits Botswana market

The shoe shop has issued notices on its stores, notifying customers of its exit from the local market with inventory wiped out by a close-down sale. Owned by retail giant Pepkor, shareholders revealed late last year that Shoe City had consistently dragged down the performance of its speciality division, which includes Tekkie Town and Refinery.

One of the store managers of Shoe Town in Botswana confirmed to BusinessWeek that the business was pulling out of Botswana as part of a regional shutdown of stores in other countries.